Tesco (TSCDY) Cut to Hold at Zacks Investment Research

Tesco (OTCMKTS:TSCDY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, December 12th.

According to Zacks, “TESCO PLC., is the UK’s largest retailer and one of the world’s leading international retailers. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. “

Other research analysts also recently issued reports about the stock. Berenberg Bank began coverage on shares of Tesco in a research note on Tuesday, October 3rd. They issued a “hold” rating on the stock. BNP Paribas downgraded shares of Tesco from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 13th. Finally, Goldman Sachs Group raised shares of Tesco from a “sell” rating to a “buy” rating in a research note on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.50.

Shares of Tesco (OTCMKTS TSCDY) traded down $0.06 during trading on Tuesday, reaching $8.27. 256,152 shares of the company’s stock traded hands, compared to its average volume of 176,965. Tesco has a twelve month low of $6.34 and a twelve month high of $8.38. The company has a market capitalization of $22,580.00, a price-to-earnings ratio of 37.59, a PEG ratio of 2.02 and a beta of 0.61.

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Tesco Company Profile

Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services. The Company’s segments include UK & ROI, which includes the United Kingdom and Republic of Ireland; International, which includes Czech Republic, Hungary, Poland, Slovakia, Malaysia and Thailand, and Tesco Bank, which includes retail banking and insurance services through Tesco Bank in the United Kingdom.

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