Tesco (LON:TSCO) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Tesco PLC (LON:TSCO)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 397.80 ($5.31) and traded as high as GBX 449.70 ($6.01). Tesco shares last traded at GBX 446.50 ($5.96), with a volume of 11,128,710 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Tesco in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Tesco from GBX 470 to GBX 495 and gave the company a “buy” rating in a research note on Friday, October 3rd. Shore Capital reaffirmed a “buy” rating on shares of Tesco in a research note on Thursday, October 2nd. Finally, Citigroup upped their price target on Tesco from GBX 395 to GBX 460 and gave the company a “buy” rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 468.33.

Tesco Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The company’s 50 day moving average is GBX 431.42 and its 200 day moving average is GBX 397.80. The firm has a market capitalization of £28.90 billion, a price-to-earnings ratio of 1,966.96, a P/E/G ratio of 1.43 and a beta of 0.51.

Tesco (LON:TSCO) last released its earnings results on Thursday, October 2nd. The retailer reported GBX 15.61 earnings per share for the quarter. Tesco had a return on equity of 11.33% and a net margin of 1.92%. On average, equities research analysts anticipate that Tesco PLC will post 27.374848 earnings per share for the current fiscal year.

Tesco Company Profile

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.