British American Tobacco PLC (NYSE:BTI)’s share price shot up 6% on Wednesday . The stock traded as high as $49.40 and last traded at $49.02. 5,269,388 shares were traded during mid-day trading, an increase of 168% from the average session volume of 1,968,214 shares. The stock had previously closed at $46.24.

Several research firms recently weighed in on BTI. Zacks Investment Research raised shares of British American Tobacco from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Royal Bank of Canada cut shares of British American Tobacco to an “underperform” rating in a research note on Monday, September 3rd. Finally, Jefferies Financial Group downgraded British American Tobacco to a “buy” rating in a report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $79.00.

The firm has a market cap of $101.29 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.41.

Institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC acquired a new stake in British American Tobacco during the 2nd quarter valued at $130,000. NuWave Investment Management LLC acquired a new stake in shares of British American Tobacco during the second quarter worth $143,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of British American Tobacco during the first quarter worth $148,000. Assetmark Inc. lifted its holdings in shares of British American Tobacco by 44.6% during the second quarter. Assetmark Inc. now owns 3,121 shares of the company’s stock worth $157,000 after buying an additional 962 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of British American Tobacco by 101.8% during the first quarter. Perigon Wealth Management LLC now owns 2,789 shares of the company’s stock worth $163,000 after buying an additional 1,407 shares in the last quarter. 7.69% of the stock is owned by institutional investors and hedge funds.

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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