Tesco (LON:TSCO) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Tesco PLC (LON:TSCO)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 469.46 and traded as high as GBX 474.90. Tesco shares last traded at GBX 468.70, with a volume of 12,149,404 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSCO. JPMorgan Chase & Co. dropped 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. Shore Capital Group cut Tesco to a “hold” rating and lowered their price objective for the stock from GBX 525 to GBX 480 in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 500 to GBX 525 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 481.25.

Tesco Price 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’s 50-day moving average is GBX 469.96 and its 200 day moving average is GBX 469.25. The stock has a market capitalization of £29.26 billion, a PE ratio of 17.33, a P/E/G 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.