Zacks Investment Research Downgrades British American Tobacco (NYSE:BTI) to Sell

British American Tobacco (NYSE:BTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “

BTI has been the topic of several other research reports. Piper Jaffray Companies lowered shares of British American Tobacco from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 11th. Morgan Stanley lowered shares of British American Tobacco from an “equal” rating to an “underweight” rating in a research report on Monday, June 17th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.00.

NYSE BTI opened at $34.47 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.39 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $73.88 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 1.11 and a beta of 0.86. The firm’s 50 day simple moving average is $35.84 and its 200 day simple moving average is $37.32. British American Tobacco has a 1 year low of $30.67 and a 1 year high of $46.50.

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in British American Tobacco by 1.1% in the second quarter. Bank of America Corp DE now owns 4,277,960 shares of the company’s stock valued at $149,172,000 after buying an additional 47,995 shares in the last quarter. Northern Trust Corp boosted its position in British American Tobacco by 1.2% in the first quarter. Northern Trust Corp now owns 3,212,876 shares of the company’s stock valued at $134,039,000 after buying an additional 39,238 shares in the last quarter. JPMorgan Chase & Co. boosted its position in British American Tobacco by 9.0% in the second quarter. JPMorgan Chase & Co. now owns 2,603,525 shares of the company’s stock valued at $90,968,000 after buying an additional 214,064 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in British American Tobacco by 4.3% in the second quarter. Parametric Portfolio Associates LLC now owns 1,928,941 shares of the company’s stock valued at $67,262,000 after buying an additional 79,236 shares in the last quarter. Finally, Invesco Ltd. boosted its position in British American Tobacco by 63.1% in the second quarter. Invesco Ltd. now owns 1,340,891 shares of the company’s stock valued at $46,757,000 after buying an additional 518,515 shares in the last quarter. Hedge funds and other institutional investors own 5.59% of the company’s stock.

British American Tobacco Company Profile

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, tobacco-free nicotine pouches, and moist snuff; cigars; and e-cigarettes. The company offers its products under the Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Camel, Natural American Spirit, Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555, and Shuang Xi brands.

Recommended Story: How are institutional investors different from individual investors?

Get a free copy of the Zacks research report on British American Tobacco (BTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for British American Tobacco (NYSE:BTI)

Receive News & Ratings for British American Tobacco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for British American Tobacco and related companies with MarketBeat.com's FREE daily email newsletter.