Tesco (OTCMKTS:TSCDY) Stock Passes Below 50 Day Moving Average Following Analyst Downgrade

Tesco PLC (OTCMKTS:TSCDY) shares crossed below its fifty day moving average during trading on Friday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock has a fifty day moving average of $17.84 and traded as low as $16.8801. Tesco shares last traded at $17.03, with a volume of 174,634 shares changing hands.

A number of other analysts have also weighed in on TSCDY. Citigroup reissued a “buy” rating on shares of Tesco in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesco in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group cut shares of Tesco from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Tesco Stock Down 1.2%

The company’s fifty day simple moving average is $17.84 and its 200 day simple moving average is $17.67. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 0.45.

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.