Tesco (LON:TSCO) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 447.64 and traded as high as GBX 480.90. Tesco shares last traded at GBX 478.20, with a volume of 95,491,664 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Tesco from GBX 500 to GBX 480 and set a “buy” rating for the company in a research report on Monday, January 12th. Shore Capital Group reissued a “buy” rating on shares of Tesco in a research note on Friday, January 23rd. Jefferies Financial Group cut their price objective on Tesco from GBX 450 to GBX 430 and set a “hold” rating for the company in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Tesco from GBX 500 to GBX 490 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 465.

Tesco Stock Up 2.1%

The stock has a market cap of £30.87 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.43 and a beta of 0.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 138.46. The firm’s 50 day moving average is GBX 454.33 and its two-hundred day moving average is GBX 448.06.

Insider Activity at Tesco

In other news, insider Imran Nawaz bought 11,961 shares of the stock in a transaction on Friday, January 9th. The stock was purchased at an average cost of GBX 418 per share, with a total value of £49,996.98. Also, insider Ken Murphy purchased 11,961 shares of the business’s stock in a transaction on Friday, January 9th. The stock was acquired at an average price of GBX 418 per share, with a total value of £49,996.98. Insiders have purchased 23,983 shares of company stock worth $10,026,942 in the last three months. Insiders own 2.18% of the company’s stock.

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children’s groups, food banks and other good causes.

In challenging times, our purpose has guided every part of the Group. Serving our customers, communities and planet a little better every day is what we do.