British American Tobacco (NYSE:BTI) Stock Price Passes Below 50 Day Moving Average – What’s Next?

British American Tobacco p.l.c. (NYSE:BTI) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $60.10 and traded as low as $56.00. British American Tobacco shares last traded at $56.75, with a volume of 4,635,110 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BTI. Citigroup restated a “buy” rating on shares of British American Tobacco in a research note on Thursday, May 14th. Morgan Stanley restated an “overweight” rating on shares of British American Tobacco in a research note on Monday, June 8th. Royal Bank Of Canada reissued an “underperform” rating on shares of British American Tobacco in a research note on Tuesday, August 11th. BTIG Research began coverage on shares of British American Tobacco in a research report on Tuesday, July 21st. They set a “buy” rating on the stock. Finally, Weiss Ratings upgraded shares of British American Tobacco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

British American Tobacco Trading Down 0.9%

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.84 and a quick ratio of 0.50. The stock has a 50-day moving average of $59.98 and a 200 day moving average of $60.14.

British American Tobacco (NYSE:BTI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($1.10). The firm had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $16.42 billion. As a group, equities analysts anticipate that British American Tobacco p.l.c. will post 4.84 EPS for the current year.

Institutional Trading of British American Tobacco

Several hedge funds have recently modified their holdings of BTI. AlphaCore Capital LLC increased its stake in British American Tobacco by 1.6% during the 4th quarter. AlphaCore Capital LLC now owns 10,849 shares of the company’s stock valued at $614,000 after purchasing an additional 170 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in British American Tobacco by 3.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,996 shares of the company’s stock valued at $283,000 after purchasing an additional 181 shares during the period. Empowered Funds LLC increased its holdings in British American Tobacco by 3.1% during the first quarter. Empowered Funds LLC now owns 6,184 shares of the company’s stock worth $362,000 after buying an additional 186 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of British American Tobacco by 0.3% in the 4th quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock worth $3,323,000 after purchasing an additional 187 shares during the period. Finally, Renasant Bank lifted its position in shares of British American Tobacco by 4.8% during the 1st quarter. Renasant Bank now owns 4,152 shares of the company’s stock valued at $243,000 after buying an additional 192 shares during the last quarter. 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.