Tesco (LON:TSCO) Sets New 1-Year High - Should You Buy?

Key Points

• Tesco PLC's share price hit a new 52-week high, trading at GBX 445.80 ($5.99), indicating a strong performance in the stock market.
• Analysts from Citigroup and JPMorgan Chase & Co. increased their price targets on Tesco, with Citigroup raising it to GBX 460 and offering a "buy" rating.
• The stock holds an average rating of "Buy" among analysts, with a current average price target of GBX 455, suggesting positive sentiment in the market.

Tesco PLC (LON:TSCO - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 445.80 ($5.99) and last traded at GBX 444.10 ($5.97), with a volume of 56739523 shares changing hands. The stock had previously closed at GBX 440.70 ($5.92).

Wall Street Analyst Weigh In

TSCO has been the subject of several recent analyst reports. Citigroup lifted their price target on Tesco from GBX 395 to GBX 460 and gave the company a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. increased their price target on shares of Tesco from GBX 400 to GBX 450 and gave the stock an "overweight" rating in a research note on Monday, September 1st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of GBX 455.

Tesco Stock Up 1.1%

The firm has a 50 day moving average price of GBX 427.86 and a two-hundred day moving average price of GBX 391.22. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The company has a market capitalization of £28.92 billion, a price-to-earnings ratio of 1,894.94, a P/E/G ratio of 1.43 and a beta of 0.51.

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.

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