Tesco (LON:TSCO) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Tesco's share price has crossed above its 200-day moving average, trading at GBX 419.50 ($5.58) after reaching a high of GBX 425.90 ($5.66).
• Analysts at Citigroup have raised Tesco's price target from GBX 395 ($5.25) to GBX 460 ($6.12) and maintained a "buy" rating on the stock.
• The company currently has a market capitalization of £27.94 billion and a price-to-earnings ratio of 21.91.

Tesco PLC (LON:TSCO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 375.43 ($5.05) and traded as high as GBX 425.90 ($5.73). Tesco shares last traded at GBX 419.50 ($5.64), with a volume of 24,602,691 shares changing hands.

Analysts Set New Price Targets

TSCO has been the topic of a number of research analyst reports. Shore Capital reissued a "buy" rating on shares of Tesco in a research report on Thursday, April 10th. Citigroup boosted their price objective on shares of Tesco from GBX 395 ($5.31) to GBX 460 ($6.19) and gave the company a "buy" rating in a research report on Friday, July 18th.

Tesco Stock Down 2.6%

The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.35. The firm has a market capitalization of £27.37 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a 50 day simple moving average of GBX 405.51 and a two-hundred day simple moving average of GBX 376.05.

Tesco Company Profile

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.