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

Tesco PLC (LON:TSCO) shares were 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). 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 ($4.81).

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of research analyst reports. Shore Capital reissued a “buy” rating on shares of Tesco in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped 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 report on Monday, January 13th.

Tesco Trading Down 8.7 %

The company has a debt-to-equity ratio of 126.35, a current ratio of 0.81 and a quick ratio of 0.60. The company has a market cap of £22.64 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The business’s fifty day moving average price is GBX 370.38 and its 200 day moving average price is GBX 363.22.

Insider Buying and Selling at Tesco

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

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.