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

by · The Markets Daily

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

Trending Headlines about 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

Analyst Ratings Changes

ATG has been the subject of a number of recent analyst reports. Berenberg Bank dropped their price objective on Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a report on Thursday, November 27th. JPMorgan Chase & Co. lifted their target price on 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 cut their price target on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Finally, Royal Bank Of Canada reduced their price target 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Auction Technology Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 549.

Get Our Latest Research Report on Auction Technology Group

Auction Technology Group Trading Up 12.6%

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 company has a market capitalization of £438.34 million, a P/E ratio of -3.06 and a beta of 1.29. The company’s fifty day simple moving average is GBX 291.14 and its 200-day simple moving average is GBX 339.95.

About Auction Technology Group

(Get Free Report)

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.

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