Tesco (LON:TSCO) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Tesco shares crossed above their 200-day moving average (200‑day MA GBX 447.64), trading as high as GBX 480.90 and last at GBX 478.20 on heavy volume.
• Analysts hold a consensus "Moderate Buy" rating with an average price target of GBX 465 (four Buys, one Hold), though several brokers have recently trimmed targets into the GBX 430–490 range.
• Insiders bought roughly 24,000 shares recently at GBX 418, and insiders now own about 2.18% of the company.

Tesco PLC (LON:TSCO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 447.64 and traded as high as GBX 480.90. Tesco shares last traded at GBX 478.20, with a volume of 95,491,664 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSCO. Shore Capital Group reiterated a "buy" rating on shares of Tesco in a research report on Friday, January 23rd. 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 report on Monday, January 12th. Jefferies Financial Group lowered their target price on shares of Tesco from GBX 450 to GBX 430 and set a "hold" rating for the company in a research note on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesco from GBX 500 to GBX 490 and set a "buy" rating on the stock in a report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 465.

Tesco Trading Up 2.0%

The business has a 50 day simple moving average of GBX 453.50 and a 200-day simple moving average of GBX 447.64. The stock has a market capitalization of £30.39 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.43 and a beta of 0.65. The company has a debt-to-equity ratio of 138.46, a current ratio of 0.60 and a quick ratio of 0.60.

Insider Activity at Tesco

In related news, insider Imran Nawaz bought 11,961 shares of the company's stock in a transaction on Friday, January 9th. The shares were purchased at an average cost of GBX 418 per share, for a total transaction of £49,996.98. Also, insider Ken Murphy purchased 11,961 shares of the business's 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. Insiders purchased a total of 23,983 shares of company stock valued at $10,026,942 over the last quarter. 2.18% of the stock is owned by insiders.

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

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