Tesco (LON:TSCO) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Tesco shares crossed above their 200-day moving average (200‑day MA GBX 449.99), trading as high as GBX 483.80 and last at GBX 466.80 on heavy volume (894,995,313 shares).
• Analyst consensus is a "Moderate Buy" with four Buy and one Hold rating and an average target of GBX 465, although several firms have recently trimmed targets (e.g., JPMorgan to GBX 480, Deutsche Bank to GBX 490, Jefferies to GBX 430).
• Notable insider buying: Ken Murphy and Imran Nawaz each purchased 11,961 shares at GBX 418 on Jan 9, with insiders acquiring 23,983 shares in the quarter and owning 2.18% of the company.

Tesco PLC (LON:TSCO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 449.99 and traded as high as GBX 483.80. Tesco shares last traded at GBX 466.80, with a volume of 894,995,313 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Shore Capital Group reissued a "buy" rating on shares of Tesco in a research note on Friday, January 23rd. JPMorgan Chase & Co. reduced their price target 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. Deutsche Bank Aktiengesellschaft lowered their target price on Tesco from GBX 500 to GBX 490 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Finally, Jefferies Financial Group cut their price target on shares of Tesco from GBX 450 to GBX 430 and set a "hold" rating on the stock in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 465.

Tesco Stock Down 1.9%

The business's 50-day moving average is GBX 458.92 and its 200-day moving average is GBX 449.99. The firm has a market cap of £29.67 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.43 and a beta of 0.65. The company has a debt-to-equity ratio of 138.46, a quick ratio of 0.60 and a current ratio of 0.60.

Insider Transactions at Tesco

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