According to Seekingalpha news, shares of British American Tobacco (BAT) ended six consecutive days of rising momentum on January 9. The stock price fell 1.2% in afternoon trading and was quoted at $30.20.
The company's stock price rose approximately 4.3% in the first six trading days. But overall, the company's shares have fallen 24% over the past year, compared with a 22% gain for the broader S&P 500 index. The company's shares closed at $30.57 on January 8, up 0.9%. It was a mixed month for British American Tobacco, with 11 positive days and nine negative ones.
Among Wall Street analysts, three gave BAT a strong buy rating and one gave it a buy rating. There are 1 analysts who have given a Hold recommendation for the stock, while none have a Sell recommendation or a strong Sell recommendation.
Earlier last month, the company shocked investors by writing down the value of its U.S. cigarette brands by $31.5 billion. While some analysts see this as a buying opportunity, analysts note that BAT's recent writedowns have raised concerns about other charges that could be incurred by other tobacco companies.
