Tesco (LON:TSCO) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Tesco shares crossed above their 200‑day moving average, trading as high as GBX 453.60 and last at GBX 452.10 on volume of 9.39 million versus a 200‑day MA of GBX 438.15.
• Analyst consensus is a "Moderate Buy" with an average target of GBX 465 after several brokers trimmed targets (e.g., Deutsche Bank to GBX 490, Jefferies to GBX 430, JPMorgan to GBX 480).
• Insiders have been buying stock, including Ken Murphy and Imran Nawaz each acquiring 11,961 shares at GBX 418, with insiders purchasing 23,954 shares in the last quarter and owning about 2.04% of the company.

Tesco PLC (LON:TSCO - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 438.15 and traded as high as GBX 453.60. Tesco shares last traded at GBX 452.10, with a volume of 9,390,224 shares.

Analysts Set New Price Targets

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

Tesco Trading Up 0.6%

The company has a 50 day simple moving average of GBX 436.21 and a two-hundred day simple moving average of GBX 438.15. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market cap of £28.73 billion, a PE ratio of 19.92, a P/E/G ratio of 1.43 and a beta of 0.51.

Insider Activity at Tesco

In other Tesco news, insider Ken Murphy acquired 11,961 shares of the company's stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of GBX 418 per share, with a total value of £49,996.98. Also, insider Imran Nawaz acquired 11,961 shares of the business's stock in a transaction dated Friday, January 9th. The stock was acquired at an average price of GBX 418 per share, for a total transaction of £49,996.98. In the last quarter, insiders purchased 23,954 shares of company stock worth $10,012,964. 2.04% of the stock is owned by corporate insiders.

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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