Tesco (LON:TSCO) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Tesco PLC (LON:TSCO)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 468.91 and traded as high as GBX 476.51. Tesco shares last traded at GBX 474, with a volume of 6,405,470 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on TSCO shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of 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. dropped their price objective on shares of Tesco from GBX 500 to GBX 490 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Finally, Shore Capital Group lowered shares of Tesco to a “hold” rating and reduced their price objective for the company from GBX 525 to GBX 480 in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Tesco has a consensus rating of “Moderate Buy” and an average target price of GBX 481.25.

Tesco Trading Down 0.6%

The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 131.55. The stock has a market capitalization of £29.52 billion, a PE ratio of 17.49, a PEG ratio of 1.43 and a beta of 0.57. The business’s 50-day moving average is GBX 471.22 and its two-hundred day moving average is GBX 468.91.

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.