Auction Technology Group (LON:ATG) Stock Price Up 23.6% – Still a Buy?
by Teresa Graham · The Cerbat GemShares of Auction Technology Group plc (LON:ATG – Get Free Report) shot up 23.6% during mid-day trading on Monday . The company traded as high as GBX 339 and last traded at GBX 335. 8,143,176 shares changed hands during trading, an increase of 43% from the average session volume of 5,708,892 shares. The stock had previously closed at GBX 270.95.
Trending Headlines about Auction Technology Group
Here are the key news stories impacting Auction Technology Group this week:
- Positive Sentiment: Board rejects takeover approaches from FitzWalter and says offers were not recommended, signaling management confidence in ATG’s standalone value and leaving open the possibility of higher bids or alternative strategic options. Read More.
- Neutral Sentiment: LSE briefing reports the company has turned down as many as 11 approaches — the process appears active but unresolved, which could either attract other bidders or prolong uncertainty while the board pursues its strategy. Read More.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on ATG shares. Royal Bank Of Canada cut their price objective on shares of Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating on the stock in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. boosted their price target on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research report on Friday, November 28th. Peel Hunt lowered their price objective on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Berenberg Bank dropped their target price on Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating on the stock in a report on Thursday, November 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 549.
Read Our Latest Report on Auction Technology Group
Auction Technology Group Trading Up 23.6%
The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16. The firm has a market capitalization of £403.87 million, a price-to-earnings ratio of -2.83 and a beta of 1.29. The firm’s 50 day moving average is GBX 287.65 and its 200 day moving average is GBX 346.56.
About Auction Technology Group
Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).
The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.