Tesco (OTCMKTS:TSCDY) Rating Lowered to “Hold” at Erste Group Bank

Tesco (OTCMKTS:TSCDY – Get Free Report) was downgraded by equities researchers at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

TSCDY has been the subject of a number of other research reports. Citigroup assumed coverage on shares of Tesco in a research report on Tuesday, May 5th. They set a “buy” rating for the company. 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.com, Tesco has a consensus rating of “Moderate Buy”.

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Tesco Price Performance

Shares of OTCMKTS TSCDY opened at $18.56 on Thursday. Tesco has a 52-week low of $16.65 and a 52-week high of $20.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.39. The business has a fifty day moving average of $18.94 and a two-hundred day moving average of $19.03.

About Tesco

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Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.

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