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

Tesco PLC (LON:TSCO)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 344.63 ($4.27) and traded as high as GBX 369.30 ($4.57). Tesco shares last traded at GBX 368.30 ($4.56), with a volume of 4,495,767 shares changing hands.

Wall Street Analysts Forecast Growth

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

Tesco Price Performance

The firm’s fifty day simple moving average is GBX 359.07 and its 200-day simple moving average is GBX 345.09. The firm has a market capitalization of £25.35 billion, a PE ratio of 1,378.89, a PEG 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 purchased 734 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of GBX 355 ($4.39) per share, for a total transaction of £2,605.70 ($3,225.28). 2.51% of the stock is owned by insiders.

Tesco Company Profile

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.