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

Tesco PLC (LON:TSCO)’s stock price traded down 8.7% during mid-day trading on Saturday . The stock traded as low as GBX 337.87 ($4.37) and last traded at GBX 339.20 ($4.39). 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 ($4.81).

Analyst Upgrades and Downgrades

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

Tesco Stock Down 8.7 %

The stock’s fifty day moving average is GBX 370.38 and its two-hundred day moving average is GBX 363.38. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 126.35. 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.

Insider Buying and Selling

In other news, insider Gerard Murphy purchased 40,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Over the last three months, insiders have purchased 40,073 shares of company stock worth $14,867,657. Insiders own 2.51% 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.