British American Tobacco (NYSE:BTI) Sees Strong Trading Volume – Should You Buy?

Shares of British American Tobacco p.l.c. (NYSE:BTI) saw strong trading volume on Tuesday . 8,590,421 shares were traded during mid-day trading, an increase of 90% from the previous session’s volume of 4,531,318 shares.The stock last traded at $62.32 and had previously closed at $62.74.

Analyst Ratings Changes

BTI has been the subject of several research reports. Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Citigroup reiterated a “buy” rating on shares of British American Tobacco in a research report on Thursday, May 14th. Wall Street Zen lowered shares of British American Tobacco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Trading Down 1.8%

The firm has a fifty day moving average of $61.13 and a 200-day moving average of $59.51. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Capital World Investors lifted its stake in shares of British American Tobacco by 12,870.7% in the 3rd quarter. Capital World Investors now owns 9,470,709 shares of the company’s stock valued at $502,687,000 after purchasing an additional 9,397,693 shares during the period. Wealth High Governance Capital Ltda acquired a new position in shares of British American Tobacco during the 4th quarter worth about $6,911,000. Modern Wealth Management LLC bought a new stake in shares of British American Tobacco in the 3rd quarter valued at about $14,771,000. Assetmark Inc. raised its position in shares of British American Tobacco by 4.3% in the 4th quarter. Assetmark Inc. now owns 557,887 shares of the company’s stock valued at $31,588,000 after acquiring an additional 23,141 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its position in shares of British American Tobacco by 284.8% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 26,274 shares of the company’s stock valued at $1,488,000 after acquiring an additional 19,446 shares during the period. Institutional investors own 16.16% of the company’s stock.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.