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

Auction Technology Group plc (LON:ATG) shot 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 traded hands 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.

Trending Headlines about Auction Technology Group

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

• Positive Sentiment: FitzWalter Capital has increased/said it is considering an increased takeover offer for ATG, triggering a sharp share rise as investors price in a takeover premium. Auction Technology shares rise as FitzWalter increases takeover bid Auction Technology surges as FitzWalter considers increased takeover offer Auction Technology Shares Jump After Shareholder Indicates Higher Offer Proposal Auction Technology Group stock soars after increased takeover offer FitzWalter Capital raises buyout bid for UK’s Auction Technology to $658 million
• Positive Sentiment: ATG’s largest shareholder has reportedly tabled a further (the twelfth) bid valuing the group at about £491m, reinforcing takeover momentum and providing an alternate path to a deal for shareholders. Auction Technology Group’s biggest shareholder tables twelfth bid worth £491m
• Neutral Sentiment: The situation remains fluid — reports indicate proposals and interest but not a completed, binding deal. Further negotiations, competing bids, shareholder approvals and regulatory review could change outcomes and price direction.

Analysts Set New Price Targets

ATG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased 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 note on Friday, November 28th. Royal Bank Of Canada reduced 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. Peel Hunt reduced 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 research report on Tuesday, December 2nd. Finally, Berenberg Bank cut their price objective on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating on the stock in a research report on Thursday, November 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Auction Technology Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 549.

Auction Technology Group Stock Performance

The company has a market capitalization of £438.34 million, a price-to-earnings 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 firm’s 50 day simple moving average is GBX 291.14 and its 200-day simple moving average is GBX 339.95.

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.