Tesco (LON:TSCO) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Tesco shares crossed above its 200-day moving average (200‑day MA GBX 452.96) and traded as high as GBX 492.10, last at GBX 480.40 on volume of about 13.2 million shares, signaling a bullish technical move.
• Analysts hold a consensus of "Moderate Buy" (four Buy, one Hold) with an average target of GBX 465, though several firms have recently trimmed their price targets.
• Insiders have been buying

Tesco PLC (LON:TSCO - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 452.96 and traded as high as GBX 492.10. Tesco shares last traded at GBX 480.40, with a volume of 13,201,498 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TSCO shares. Jefferies Financial Group dropped their price target on shares of Tesco from GBX 450 to GBX 430 and set a "hold" rating on the stock in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesco from GBX 500 to GBX 490 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Shore Capital Group reissued a "buy" rating on shares of Tesco in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesco from GBX 500 to GBX 480 and set a "buy" rating on the stock in a research report on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Tesco currently has an average rating of "Moderate Buy" and an average target price of GBX 465.

Tesco Trading Down 0.2%

The firm has a market cap of £30.47 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 138.46. The firm's 50-day simple moving average is GBX 470.53 and its 200 day simple moving average is GBX 452.96.

Insider Activity

In related news, insider Imran Nawaz acquired 11,961 shares of the stock in a transaction on Friday, January 9th. The shares were acquired at an average price of GBX 418 per share, with a total value of £49,996.98. Also, insider Ken Murphy acquired 11,961 shares of the stock in a transaction on Friday, January 9th. The stock was bought at an average cost of GBX 418 per share, for a total transaction of £49,996.98. In the last ninety days, insiders acquired 23,983 shares of company stock worth $10,026,942. Insiders own 2.18% of the company's stock.

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. Serving our customers, communities and planet a little better every day is what we do.

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