Tesco (LON:TSCO) Stock Price Down 8.7% – Here’s Why

Tesco PLC (LON:TSCO)’s stock price was down 8.7% on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). Approximately 32,628,854 shares were traded 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 ($4.81).

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TSCO shares. JPMorgan Chase & Co. cut their price objective on shares of Tesco from GBX 410 ($5.30) to GBX 400 ($5.17) and set an “overweight” rating on the stock in a research report on Monday, January 13th. Shore Capital reiterated a “buy” rating on shares of Tesco in a research report on Tuesday, December 10th.

Tesco Trading Down 8.7 %

The business’s 50 day moving average is GBX 370.38 and its two-hundred day moving average is GBX 363.38. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The firm has a market capitalization of £22.64 billion, a P/E ratio of 17.75, a PEG ratio of 1.43 and a beta of 0.51.

Insider Activity at Tesco

In other Tesco news, insider Gerard Murphy purchased 40,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Insiders bought 40,073 shares of company stock valued at $14,867,657 over the last 90 days. 2.51% of the stock is currently 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.