Tesco (LON:TSCO) Trading Down 8.7% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSCO. JPMorgan Chase & Co. cut their price objective on Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating for the company in a research report on Monday, January 13th. Shore Capital reissued a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.

Tesco Stock Performance

The firm’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. The company has a market capitalization of £22.64 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.43 and a beta of 0.51.

Insider Buying and Selling at Tesco

In related news, insider Gerard Murphy purchased 40,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 371 ($4.80) per share, with a total value of £148,400 ($191,830.40). Insiders have bought a total of 40,073 shares of company stock valued at $14,867,657 in the last three months. 2.51% of the stock is currently owned by company insiders.

About Tesco

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.