Auction Technology Group (LON:ATG) Stock Price Up 12.6% – Still a Buy?

Auction Technology Group plc (LON:ATG) traded up 12.6% during mid-day trading on Saturday . The stock traded as high as GBX 370 and last traded at GBX 362. 1,920,300 shares were traded during mid-day trading, an increase of 100% from the average session volume of 958,306 shares. The stock had previously closed at GBX 321.50.

Auction Technology Group News Roundup

Here are the key news stories impacting Auction Technology Group this week:

• Positive Sentiment: FitzWalter Capital has increased its takeover bid and is reported to be considering an even higher offer, driving renewed takeover speculation around ATG. Article Title
• Positive Sentiment: Market reaction: multiple outlets report ATG shares jumped/soared on the news with trading volume well above average, indicating strong investor interest and short-term upward pressure on the share price. Article Title
• Positive Sentiment: Bid size reported: coverage cites a new offer headline value of about £491m from the largest shareholder and other reports convert the proposal to roughly $658m — signaling a material premium to prior levels and underpinning the share rally. Article Title
• Neutral Sentiment: Execution and outcome uncertain: takeover discussions can still change (competing bids, due diligence, or shareholder votes). The reported bids raise the floor on valuation today but don’t guarantee a completed deal or a final offer price. Article Title

Analyst Ratings Changes

A number of research firms have commented on ATG. Berenberg Bank reduced their price objective on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a research note on Thursday, November 27th. JPMorgan Chase & Co. raised their price objective on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research note on Friday, November 28th. Royal Bank Of Canada cut their target price 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. Finally, Peel Hunt decreased their target price on Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Auction Technology Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 549.

Auction Technology Group Price Performance

The company has a market capitalization of £438.34 million, a PE ratio of -3.06 and a beta of 1.29. The company has a debt-to-equity ratio of 18.16, a quick ratio of 1.36 and a current ratio of 0.62. The stock has a 50 day moving average price of GBX 291.14 and a two-hundred day moving average price of GBX 339.95.

Auction Technology Group Company Profile

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.