Tesco (LON:TSCO) Shares Pass Above 200 Day Moving Average – What’s Next?

Tesco PLC (LON:TSCO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 463.16 and traded as high as GBX 480.30. Tesco shares last traded at GBX 480.30, with a volume of 6,846,399 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSCO. Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 500 to GBX 525 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of Tesco from GBX 480 to GBX 500 and gave the stock an “overweight” rating in a report on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and issued a GBX 430 price objective on shares of Tesco in a research report on Thursday, April 16th. Finally, Shore Capital Group reaffirmed a “buy” rating and set a GBX 525 target price on shares of Tesco in a report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Tesco presently has a consensus rating of “Moderate Buy” and an average target price of GBX 495.

Tesco Trading Up 1.1%

The stock’s 50 day simple moving average is GBX 461 and its 200 day simple moving average is GBX 463.16. The firm has a market cap of £29.94 billion, a PE ratio of 17.72, a PEG ratio of 1.43 and a beta of 0.57. The company has a debt-to-equity ratio of 131.55, a quick ratio of 0.60 and a current ratio of 0.59.

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.