Tesco (LON:TSCO) Cut to “Hold” at Shore Capital Group

Shore Capital Group downgraded shares of Tesco (LON:TSCO) to a hold rating in a research report report published on Wednesday morning,Digital Look reports. The brokerage currently has GBX 480 price objective on the retailer’s stock, down from their previous price objective of GBX 525.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 500 to GBX 525 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 430 target price on shares of Tesco in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tesco from GBX 480 to GBX 500 and gave the stock an “overweight” rating in a report on Friday, April 17th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 483.75.

Tesco Stock Performance

LON TSCO opened at GBX 461.50 on Wednesday. The company has a market cap of £28.92 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The stock’s 50 day simple moving average is GBX 468.87 and its 200-day simple moving average is GBX 468.36. Tesco has a 1-year low of GBX 411.60 and a 1-year high of GBX 520.60. The company has a debt-to-equity ratio of 131.55, a current ratio of 0.59 and a quick ratio of 0.60.

Tesco Company Profile

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Across the Group, our purpose is at the core of what we do: serving our customers, communities and planet a little better every day.
Our fantastic team of over 340,000 colleagues go above and beyond to serve our customers. We work hard to be a place where everyone is welcome, where all colleagues can be at their best and build the skills to grow their careers.