Tesco (LON:TSCO) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Tesco's share price has surpassed its 200-day moving average, revealing positive momentum as it traded at GBX 423.50 ($5.66) after reaching a peak of GBX 430 ($5.74).
• Analysts continue to show confidence in Tesco, with Citigroup raising its target price from GBX 395 ($5.28) to GBX 460 ($6.15) while maintaining a "buy" rating.
• Despite the stock's recent gains, Tesco is currently trading down 0.7% and has a market capitalization of £28.07 billion.

Tesco PLC (LON:TSCO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 373.19 ($4.93) and traded as high as GBX 430 ($5.68). Tesco shares last traded at GBX 423.50 ($5.59), with a volume of 6,751,846 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Tesco from GBX 395 ($5.22) to GBX 460 ($6.08) and gave the company a "buy" rating in a research note on Friday, July 18th. Shore Capital reaffirmed a "buy" rating on shares of Tesco in a report on Thursday, April 10th.

Tesco Price Performance

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 stock has a fifty day simple moving average of GBX 402.43 and a two-hundred day simple moving average of GBX 374.34. The company has a market cap of £28.29 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

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.