Tesco (LON:TSCO) Stock Price Down 8.7% – What’s Next?

Tesco PLC (LON:TSCO)’s stock price dropped 8.7% on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.38). Approximately 32,628,854 shares changed hands during mid-day trading, an increase of 86% from the average daily volume of 17,553,332 shares. The stock had previously closed at GBX 371.50 ($4.80).

Analyst Upgrades and Downgrades

TSCO has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating for the company in a research note on Monday, January 13th. Shore Capital reiterated a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.

Tesco Stock Down 8.7 %

The firm has a market cap of £22.64 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock’s 50 day simple moving average is GBX 370.38 and its 200 day simple moving average is GBX 363.50. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81.

Insider Buying and Selling at Tesco

In other Tesco news, insider Gerard Murphy purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,830.40). In the last 90 days, insiders acquired 40,073 shares of company stock worth $14,867,657. 2.51% of the stock is owned by corporate 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.