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

Tesco PLC (LON:TSCO) shares fell 8.7% 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 mid-day 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).

Wall Street Analyst Weigh In

Several research firms have weighed in on TSCO. Shore Capital reaffirmed a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price 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 report on Monday, January 13th.

Tesco Trading Down 8.7 %

The firm has a market capitalization of £22.64 billion, a PE ratio of 17.75, a PEG ratio of 1.43 and a beta of 0.51. The firm’s fifty day moving average is GBX 370.38 and its two-hundred day moving average is GBX 363.22. The company has a debt-to-equity ratio of 126.35, a current ratio of 0.81 and a quick ratio of 0.60.

Insider Buying and Selling

In other news, insider Gerard Murphy purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 371 ($4.80) per share, for a total transaction of £148,400 ($191,954.47). Over the last ninety days, insiders have bought 40,073 shares of company stock worth $14,867,657. 2.51% of the stock is owned by 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.