Tesco (LON:TSCO) Reaches New 52-Week High - Should You Buy?

Key Points

• Tesco PLC's stock price reached a new 52-week high of GBX 432.10 ($5.80) during trading, with a recent trading price of GBX 428.90 ($5.75) and a significant trading volume of over 33 million shares.
• Citigroup raised its target price for Tesco from GBX 395 to GBX 460, maintaining a "buy" rating, while the stock currently holds a consensus "Buy" rating and average target price of GBX 430.
• Despite hitting new highs, Tesco's stock price was down 0.9%, with current financial metrics including a market cap of £28.54 billion and a debt-to-equity ratio of 126.35.

Shares of Tesco PLC (LON:TSCO - Get Free Report) reached a new 52-week high on Friday . The company traded as high as GBX 432.10 ($5.83) and last traded at GBX 428.90 ($5.79), with a volume of 33101887 shares trading hands. The stock had previously closed at GBX 431.50 ($5.82).

Analyst Upgrades and Downgrades

Separately, Citigroup raised their price objective on Tesco from GBX 395 to GBX 460 and gave the company a "buy" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tesco has an average rating of "Buy" and an average target price of GBX 430.

Tesco Trading Down 1.1%

The firm has a market cap of £28.50 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock has a fifty day simple moving average of GBX 414.14 and a 200 day simple moving average of GBX 380.88. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81.

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children's groups, food banks and other good causes. In challenging times, our purpose has guided every part of the Group.