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

Tesco PLC (LON:TSCO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 347.37 ($4.24) and traded as high as GBX 368.90 ($4.50). Tesco shares last traded at GBX 368 ($4.49), with a volume of 22,925,766 shares changing hands.

Analysts Set New Price Targets

Separately, Shore Capital reissued a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.

Tesco Trading Down 2.3 %

The firm’s 50-day moving average price is GBX 361.30 and its 200-day moving average price is GBX 347.72. The company has a market cap of £24.50 billion, a P/E ratio of 1,332.22, 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 126.42.

Insiders Place Their Bets

In other Tesco news, insider Bertrand Bodson acquired 734 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of GBX 355 ($4.33) per share, with a total value of £2,605.70 ($3,181.56). Company insiders own 2.51% of the company’s stock.

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.