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

Tesco PLC (LON:TSCO) shares dropped 8.7% during 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 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 several analyst reports. JPMorgan Chase & Co. reduced 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 note on Monday, January 13th. Shore Capital reissued a “buy” rating on shares of Tesco in a research note on Tuesday, December 10th.

Tesco Trading Down 8.7 %

The firm has a market cap of £22.64 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.43 and a beta of 0.51. 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 business has a fifty day moving average of GBX 370.38 and a two-hundred day moving average of GBX 363.22.

Insider Buying and Selling

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