Tesco (OTCMKTS:TSCDY) Rating Lowered to “Hold” at Erste Group Bank

Tesco (OTCMKTS:TSCDY) was downgraded by equities research analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley restated an “overweight” rating on shares of Tesco in a research note on Monday, July 6th. Citigroup began coverage on shares of Tesco in a research note on Tuesday, May 5th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Tesco has a consensus rating of “Moderate Buy”.

Tesco Stock Up 0.5%

Shares of OTCMKTS:TSCDY opened at $18.56 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. Tesco has a 1 year low of $16.65 and a 1 year high of $20.54. The stock’s fifty day moving average price is $18.94 and its 200-day moving average price is $19.03.

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.