Tesco (OTCMKTS:TSCDY) Downgraded by Erste Group Bank to “Hold”

Erste Group Bank lowered shares of Tesco (OTCMKTS:TSCDY) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesco in a research note on Monday, July 6th. Citigroup assumed coverage on shares of Tesco in a report on Tuesday, May 5th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Tesco Stock Performance

TSCDY opened at $18.56 on Thursday. 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 has a 12-month low of $16.65 and a 12-month high of $20.54. The business’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $19.03.

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.