Tesco (OTCMKTS:TSCDY) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Tesco PLC (OTCMKTS:TSCDY)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $17.84 and traded as low as $16.8801. Tesco shares last traded at $17.03, with a volume of 174,634 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group downgraded Tesco from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Citigroup reissued a “buy” rating on shares of Tesco in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesco in a research note on Wednesday, December 10th. Finally, Zacks Research cut shares of Tesco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Tesco presently has a consensus rating of “Moderate Buy”.

Tesco Stock Down 1.2%

The company has a fifty day moving average of $17.84 and a two-hundred day moving average of $17.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.60.

About Tesco

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.