Tesco (LON:TSCO) Sets New 1-Year High – What’s Next?

Tesco PLC (LON:TSCO) shares reached a new 52-week high on Wednesday . The company traded as high as GBX 508.20 and last traded at GBX 501.20, with a volume of 15717216 shares. The stock had previously closed at GBX 499.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Shore Capital Group reissued a “buy” rating on shares of Tesco in a research note on Friday, January 23rd. Jefferies Financial Group reduced their target price on shares of Tesco from GBX 450 to GBX 430 and set a “hold” rating for the company in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesco from GBX 500 to GBX 490 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesco from GBX 500 to GBX 480 and set a “buy” rating on the stock in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 465.

Tesco Price Performance

The stock has a 50 day moving average of GBX 444.82 and a two-hundred day moving average of GBX 443.19. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market capitalization of £31.75 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.43 and a beta of 0.51.

Insider Activity at Tesco

In other news, insider Imran Nawaz purchased 11,961 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were bought at an average price of GBX 418 per share, with a total value of £49,996.98. Also, insider Ken Murphy acquired 11,961 shares of Tesco stock in a transaction dated Friday, January 9th. The stock was purchased at an average price of GBX 418 per share, with a total value of £49,996.98. In the last quarter, insiders have acquired 23,983 shares of company stock worth $10,026,942. Corporate insiders own 2.04% 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. Serving our customers, communities and planet a little better every day is what we do.