British American Tobacco (NYSE:BTI) Hits New 52-Week High – Time to Buy?

British American Tobacco p.l.c. (NYSE:BTI)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $60.91 and last traded at $61.0080, with a volume of 89536 shares changing hands. The stock had previously closed at $60.68.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTI. Kepler Capital Markets initiated coverage on British American Tobacco in a research report on Friday, December 12th. They issued a “buy” rating for the company. Citigroup reissued a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a report on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of British American Tobacco in a research note on Wednesday, January 21st. Finally, Morgan Stanley restated an “underweight” rating on shares of British American Tobacco in a research note on Wednesday, December 10th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, British American Tobacco presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

British American Tobacco Stock Performance

The company’s 50 day moving average price is $57.53 and its two-hundred day moving average price is $55.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.55 and a current ratio of 0.87.

Institutional Trading of British American Tobacco

Several hedge funds have recently bought and sold shares of BTI. Drive Wealth Management LLC increased its position in British American Tobacco by 38.8% in the fourth quarter. Drive Wealth Management LLC now owns 6,423 shares of the company’s stock worth $368,000 after buying an additional 1,794 shares in the last quarter. Pure Financial Advisors LLC bought a new stake in British American Tobacco during the 4th quarter worth approximately $241,000. D Orazio & Associates Inc. lifted its holdings in British American Tobacco by 2.7% during the fourth quarter. D Orazio & Associates Inc. now owns 16,693 shares of the company’s stock valued at $945,000 after purchasing an additional 444 shares in the last quarter. Midwest Trust Co boosted its position in shares of British American Tobacco by 27.0% in the fourth quarter. Midwest Trust Co now owns 9,513 shares of the company’s stock worth $539,000 after purchasing an additional 2,020 shares during the period. Finally, NewEdge Wealth LLC increased its stake in shares of British American Tobacco by 0.3% in the fourth quarter. NewEdge Wealth LLC now owns 58,696 shares of the company’s stock worth $3,323,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 16.16% of the company’s stock.

British American Tobacco Company Profile

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.