Tesco (OTCMKTS:TSCDY) Shares Gap Up – Time to Buy?

Tesco PLC (OTCMKTS:TSCDY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $18.98, but opened at $19.62. Tesco shares last traded at $19.5750, with a volume of 9,235 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSCDY. Erste Group Bank lowered shares of Tesco from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Tesco Price Performance

The stock has a 50 day moving average price of $19.12 and a two-hundred day moving average price of $18.96. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Tesco Company Profile

Tesco plc is a multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company operates supermarkets, convenience stores and online grocery services, offering food, household products, clothing and other everyday consumer goods.

Tesco serves customers primarily in the United Kingdom and also operates retail businesses in the Republic of Ireland, the Czech Republic, Hungary and Slovakia. Through Booker, its wholesale business, the company supplies groceries and other products to independent retailers, caterers and hospitality businesses.

The company traces its origins to 1919, when Jack Cohen began selling groceries from a market stall in London.