British American Tobacco (NYSE:BTI) Cut to “Neutral” at Piper Jaffray Companies

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Piper Jaffray Companies cut shares of British American Tobacco (NYSE:BTI) from an overweight rating to a neutral rating in a research report released on Thursday morning, Briefing.com Automated Import reports. Piper Jaffray Companies also issued estimates for British American Tobacco’s FY2019 earnings at $3.96 EPS and FY2020 earnings at $4.23 EPS.

BTI has been the topic of a number of other research reports. Morgan Stanley began coverage on shares of in a research note on Monday, June 17th. They set an equal weight rating and a GBX 215 ($2.81) price objective on the stock. Citigroup lowered shares of OIL SEARCH LTD/ADR from a neutral rating to a sell rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. British American Tobacco presently has an average rating of Hold and a consensus target price of $53.00.

BTI opened at $36.29 on Thursday. The firm’s 50 day moving average price is $36.41. British American Tobacco has a 52-week low of $30.67 and a 52-week high of $55.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.41 and a current ratio of 0.77.

Several hedge funds have recently added to or reduced their stakes in the company. Alera Investment Advisors LLC grew its position in shares of British American Tobacco by 50.1% during the first quarter. Alera Investment Advisors LLC now owns 833 shares of the company’s stock worth $35,000 after buying an additional 278 shares in the last quarter. FTB Advisors Inc. grew its position in shares of British American Tobacco by 12.6% during the first quarter. FTB Advisors Inc. now owns 2,526 shares of the company’s stock worth $105,000 after buying an additional 283 shares in the last quarter. Bank of Hawaii grew its position in shares of British American Tobacco by 2.9% during the first quarter. Bank of Hawaii now owns 12,643 shares of the company’s stock worth $527,000 after buying an additional 356 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of British American Tobacco by 38.4% during the first quarter. Global Retirement Partners LLC now owns 1,518 shares of the company’s stock worth $63,000 after buying an additional 421 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of British American Tobacco by 2.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,449 shares of the company’s stock worth $853,000 after buying an additional 425 shares in the last quarter. 6.10% of the stock is owned by institutional investors and hedge funds.

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.

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