British American Tobacco p.l.c. (NYSE:BTI – Get Rating) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,240,000 shares, an increase of 17.3% from the August 31st total of 1,910,000 shares. Based on an average daily volume of 2,540,000 shares, the days-to-cover ratio is presently 0.9 days.
British American Tobacco Price Performance
BTI traded up $1.09 during midday trading on Monday, reaching $36.59. 3,247,145 shares of the company's stock traded hands, compared to its average volume of 3,511,433. The firm has a fifty day moving average of $39.66 and a two-hundred day moving average of $41.55. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54. British American Tobacco has a 52 week low of $33.62 and a 52 week high of $47.24.
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in shares of British American Tobacco by 4.1% during the 1st quarter. Fifth Third Bancorp now owns 29,030 shares of the company's stock worth $1,224,000 after acquiring an additional 1,155 shares during the period. Exane Derivatives purchased a new position in shares of British American Tobacco during the 1st quarter worth approximately $261,000. FDx Advisors Inc. grew its stake in shares of British American Tobacco by 0.8% in the 1st quarter. FDx Advisors Inc. now owns 64,475 shares of the company's stock worth $2,718,000 after buying an additional 518 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of British American Tobacco in the 1st quarter worth approximately $221,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of British American Tobacco by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 83,429 shares of the company's stock worth $3,517,000 after buying an additional 1,264 shares during the last quarter. Hedge funds and other institutional investors own 6.70% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. StockNews.com raised British American Tobacco from a "hold" rating to a "buy" rating in a research note on Friday. Barclays boosted their target price on British American Tobacco from GBX 4,200 ($50.75) to GBX 4,400 ($53.17) in a research note on Tuesday, June 7th. Finally, Morgan Stanley boosted their target price on British American Tobacco from GBX 3,780 ($45.67) to GBX 4,000 ($48.33) in a research note on Tuesday, July 5th.
British American Tobacco Company Profile
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British American Tobacco p.l.c. provides tobacco and nicotine products to consumers worldwide. It offers vapour, tobacco heating, and modern oral nicotine products; combustible products; and traditional oral products, such as snus and moist snuff. The company offers its products under the Kent, Dunhill, Lucky Strike, Pall Mall, Rothmans, Camel, Newport, Natural American Spirit, being Vapour, THP, and Modern Oral brands.
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- Get a free copy of the StockNews.com research report on British American Tobacco (BTI)
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