British American Tobacco (BTI) Shares Gap Down to $45.36

British American Tobacco PLC (NYSE:BTI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $46.42, but opened at $45.36. British American Tobacco shares last traded at $43.81, with a volume of 2502157 shares traded.

Several research firms have issued reports on BTI. Jefferies Financial Group lowered shares of British American Tobacco to a “buy” rating in a report on Friday, August 24th. Royal Bank of Canada lowered shares of British American Tobacco to an “underperform” rating in a report on Monday, September 3rd. Zacks Investment Research upgraded shares of British American Tobacco from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Sanford C. Bernstein initiated coverage on shares of British American Tobacco in a report on Tuesday, October 16th. They set a “market perform” rating for the company. Finally, DZ Bank reaffirmed a “sell” rating on shares of British American Tobacco in a research report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. British American Tobacco presently has an average rating of “Hold” and a consensus price target of $73.00.

The stock has a market capitalization of $97.64 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.41 and a current ratio of 0.81.

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of British American Tobacco by 2.9% during the 2nd quarter. Sterling Capital Management LLC now owns 33,253 shares of the company’s stock worth $1,678,000 after buying an additional 948 shares during the period. Assetmark Inc. grew its position in shares of British American Tobacco by 44.6% during the 2nd quarter. Assetmark Inc. now owns 3,121 shares of the company’s stock worth $157,000 after buying an additional 962 shares during the period. OmniStar Financial Group Inc. grew its position in shares of British American Tobacco by 13.4% during the 2nd quarter. OmniStar Financial Group Inc. now owns 8,529 shares of the company’s stock worth $430,000 after buying an additional 1,005 shares during the period. Wedbush Securities Inc. grew its position in shares of British American Tobacco by 25.8% during the 2nd quarter. Wedbush Securities Inc. now owns 4,976 shares of the company’s stock worth $251,000 after buying an additional 1,021 shares during the period. Finally, Sigma Planning Corp grew its position in shares of British American Tobacco by 18.5% during the 2nd quarter. Sigma Planning Corp now owns 6,957 shares of the company’s stock worth $351,000 after buying an additional 1,088 shares during the period. 7.69% of the stock is owned by institutional investors.

About British American Tobacco (NYSE:BTI)

British American Tobacco p.l.c. provides cigarettes and other tobacco products worldwide. It manufactures vapour and tobacco heating products; oral tobacco and nicotine products, such as snus and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

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