Tesco (OTCMKTS:TSCDY) Shares Gap Up – Here’s What Happened

Shares of Tesco PLC (OTCMKTS:TSCDY) gapped up prior to trading on Thursday. The stock had previously closed at $18.88, but opened at $20.03. Tesco shares last traded at $20.18, with a volume of 7,404 shares changing hands.

Wall Street Analyst Weigh In

TSCDY has been the subject of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tesco in a research note on Monday, July 6th. Erste Group Bank downgraded shares of Tesco from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Tesco Price Performance

The stock has a 50-day simple moving average of $19.02 and a 200-day simple moving average of $18.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.39.

Tesco Company Profile

Tesco plc is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company serves customers through supermarkets, superstores, convenience stores and online grocery channels, offering food, household products, clothing, health and beauty items, and other general merchandise. Tesco also operates fuel stations and provides selected financial and mobile services through associated businesses and partnerships.

Tesco’s operations are concentrated in the United Kingdom and the Republic of Ireland, with additional stores in the Czech Republic, Hungary and Slovakia.