Tesco (LON:TSCO) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Tesco PLC (LON:TSCO) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 347.37 ($4.27) and traded as high as GBX 368.90 ($4.54). Tesco shares last traded at GBX 368 ($4.53), with a volume of 22,925,766 shares trading hands.

Analyst Upgrades and Downgrades

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

Tesco Trading Down 1.3 %

The firm has a market capitalization of £24.73 billion, a P/E ratio of 1,345.19, 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. The firm’s 50-day simple moving average is GBX 360.95 and its 200-day simple moving average is GBX 347.37.

Insider Buying and Selling at Tesco

In other Tesco news, insider Bertrand Bodson purchased 734 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of GBX 355 ($4.37) per share, with a total value of £2,605.70 ($3,206.23). 2.51% of the stock is currently owned by company insiders.

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.