Tesco (OTCMKTS:TSCDY) Sets New 1-Year High – Time to Buy?

Shares of Tesco PLC (OTCMKTS:TSCDY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.42 and last traded at $19.37, with a volume of 80212 shares traded. The stock had previously closed at $18.71.

Wall Street Analysts Forecast Growth

TSCDY has been the topic of several recent analyst reports. Jefferies Financial Group lowered Tesco from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Citigroup reaffirmed a “buy” rating on shares of Tesco in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Tesco in a research note on Wednesday, December 10th. Finally, Zacks Research downgraded shares of Tesco from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Tesco Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 0.60 and a quick ratio of 0.40. The firm has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $17.77.

About Tesco

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.