Tesco (TSCDY) Cut to “Sell” at Zacks Investment Research

Tesco (OTCMKTS:TSCDY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, September 21st.

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. “

Separately, ValuEngine raised shares of Tesco from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Tesco currently has an average rating of “Buy” and a consensus target price of $9.50.

TSCDY stock remained flat at $$8.55 during midday trading on Friday. 320,831 shares of the company traded hands, compared to its average volume of 224,649. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 0.72. Tesco has a 1-year low of $6.85 and a 1-year high of $10.42.

Tesco Company Profile

Tesco PLC, together with its subsidiaries, operates as a grocery retailer. The company also provides retail banking and insurance services. It has operations in the United Kingdom, Ireland, the Czech Republic, Hungary, Poland, Slovakia, Malaysia, Thailand, and internationally. The company serves its customers through 6,809 stores, as well as online.

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