Auction Technology Group (LON:ATG) Shares Up 12.6% – What’s Next?

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

Key Headlines Impacting Auction Technology Group

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Berenberg Bank cut their price objective on Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a research report on Thursday, November 27th. JPMorgan Chase & Co. increased their price target on Auction Technology Group from GBX 690 to GBX 695 and gave the company an “overweight” rating in a research note on Friday, November 28th. Royal Bank Of Canada reduced their price objective on 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 price objective on Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Auction Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of GBX 549.

Auction Technology Group Stock Performance

The company has a debt-to-equity ratio of 18.16, a current ratio of 0.62 and a quick ratio of 1.36. The business has a 50-day moving average of GBX 291.14 and a 200-day moving average of GBX 339.95. The company has a market capitalization of £438.34 million, a P/E ratio of -3.06 and a beta of 1.29.

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.