Tesco (LON:TSCO) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Tesco PLC (LON:TSCO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 363.01 ($4.70) and traded as high as GBX 375 ($4.85). Tesco shares last traded at GBX 373.95 ($4.84), with a volume of 19,293,813 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Shore Capital reiterated a "buy" rating on shares of Tesco in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price objective on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an "overweight" rating for the company in a research report on Monday, January 13th.

Tesco Trading Down 8.7 %

The firm has a market capitalization of £22.64 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The firm's 50-day simple moving average is GBX 370.38 and its 200-day simple moving average is GBX 363.38.

Insider Buying and Selling at Tesco

In related news, insider Gerard Murphy bought 40,000 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Insiders purchased a total of 40,073 shares of company stock worth $14,867,657 over the last three months. 2.51% 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.