Jefferies Group LLC set a $60.00 price target on Reynolds American, Inc. (NYSE:RAI) in a research report report published on Friday morning. The brokerage currently has a hold rating on the stock.
Several other analysts have also issued reports on RAI. BidaskClub lowered Reynolds American from a strong-buy rating to a buy rating in a report on Saturday, June 10th. Piper Jaffray Companies began coverage on Reynolds American in a report on Thursday, May 25th. They set a neutral rating and a $67.00 price target for the company. Cowen and Company reissued a hold rating and set a $65.00 price target on shares of Reynolds American in a report on Tuesday, July 11th. Vetr raised Reynolds American from a buy rating to a strong-buy rating and set a $73.00 price target for the company in a report on Monday, June 12th. Finally, Zacks Investment Research lowered Reynolds American from a hold rating to a sell rating in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Reynolds American presently has an average rating of Hold and an average target price of $59.82.
Reynolds American (RAI) traded down 2.23% during midday trading on Friday, hitting $65.40. The stock had a trading volume of 159,452,032 shares. The company has a 50-day moving average price of $65.25 and a 200-day moving average price of $64.00. Reynolds American has a 52 week low of $43.38 and a 52 week high of $67.81.
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Several institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. raised its position in Reynolds American by 0.4% in the second quarter. Salem Investment Counselors Inc. now owns 2,208 shares of the company’s stock worth $144,000 after buying an additional 8 shares during the period. Glassman Wealth Services raised its position in Reynolds American by 0.8% in the second quarter. Glassman Wealth Services now owns 1,568 shares of the company’s stock worth $102,000 after buying an additional 12 shares during the period. Bruderman Asset Management LLC raised its position in Reynolds American by 0.4% in the first quarter. Bruderman Asset Management LLC now owns 4,127 shares of the company’s stock worth $260,000 after buying an additional 18 shares during the period. Savant Capital LLC raised its position in Reynolds American by 0.3% in the second quarter. Savant Capital LLC now owns 6,114 shares of the company’s stock worth $398,000 after buying an additional 20 shares during the period. Finally, Alps Advisors Inc. raised its position in Reynolds American by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,908 shares of the company’s stock worth $514,000 after buying an additional 21 shares during the period. 46.34% of the stock is owned by hedge funds and other institutional investors.
Reynolds American Company Profile
Reynolds American Inc (RAI) is a holding company. The Company’s segments include RJR Tobacco, which consists of the primary operations of its subsidiary, R. J. Reynolds Tobacco Company; Santa Fe, which consists of the primary operations of its subsidiary, Santa Fe Natural Tobacco Company, Inc, and American Snuff, which consists of the primary operations of its subsidiary, American Snuff Company, LLC.
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