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

Tesco PLC (LON:TSCO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 468.71 and traded as high as GBX 484.70. Tesco shares last traded at GBX 481.30, with a volume of 9,593,690 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesco from GBX 500 to GBX 525 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their target price on Tesco from GBX 500 to GBX 490 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Finally, Shore Capital Group lowered Tesco to a “hold” rating and decreased their target price for the stock from GBX 525 to GBX 480 in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 481.25.

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 business’s 50-day moving average is GBX 471.01 and its 200-day moving average is GBX 468.76. The company has a market capitalization of £29.66 billion, a PE ratio of 17.57, a PEG ratio of 1.43 and a beta of 0.57.

About Tesco

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.