Tesco (LON:TSCO) Stock Passes Above 200 Day Moving Average – Here’s Why

Tesco PLC (LON:TSCO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 463.16 and traded as high as GBX 480.30. Tesco shares last traded at GBX 480.30, with a volume of 6,846,399 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on TSCO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 500 to GBX 525 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on Tesco from GBX 480 to GBX 500 and gave the company an “overweight” rating in a report on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and set a GBX 430 price objective on shares of Tesco in a research note on Thursday, April 16th. Finally, Shore Capital Group reaffirmed a “buy” rating and set a GBX 525 price objective on shares of Tesco in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Tesco has an average rating of “Moderate Buy” and a consensus target price of GBX 495.

Tesco Stock Performance

The company has a debt-to-equity ratio of 131.55, a quick ratio of 0.60 and a current ratio of 0.59. The stock has a market cap of £29.94 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The firm has a fifty day moving average price of GBX 461 and a 200 day moving average price of GBX 463.16.

Tesco Company Profile

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Across the Group, our purpose is at the core of what we do: serving our customers, communities and planet a little better every day.
Our fantastic team of over 340,000 colleagues go above and beyond to serve our customers. We work hard to be a place where everyone is welcome, where all colleagues can be at their best and build the skills to grow their careers.