Auction Technology Group (LON:ATG) Trading 23.6% Higher – Still a Buy?

Auction Technology Group plc (LON:ATG)’s share price shot up 23.6% on Monday . The company traded as high as GBX 339 and last traded at GBX 335. 8,143,176 shares were traded 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.

Key Headlines Impacting Auction Technology Group

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

• Positive Sentiment: Board rejection seen as signal of confidence and potential for higher offer(s) or strategic upside; market reaction has been positive as investors anticipate either a better bid or continued execution by management. Auction Technology Group Rejects Takeover Approaches From FitzWalter
• Neutral Sentiment: Company disclosed multiple approaches from FitzWalter but has not entered into any agreement; no binding offer or deal has been announced, so the situation remains fluid and subject to change. LONDON BRIEFING: Auction Technology rejects 11 FitzWalter buyout bids
• Negative Sentiment: Ongoing takeover interest can create uncertainty and potential distraction for management; if bidders persist, the process could become protracted or lead to volatile trading and activist pressure. LONDON BRIEFING: Auction Technology rejects 11 FitzWalter buyout bids

Wall Street Analysts Forecast Growth

ATG has been the topic of several recent analyst reports. Peel Hunt reduced their target price on 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. Royal Bank Of Canada dropped their price objective on shares of Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating for the company in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. raised their target price 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. Finally, Berenberg Bank dropped their price target on shares of 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Auction Technology Group currently has an average rating of “Moderate Buy” and a consensus price target of GBX 549.

Auction Technology Group Stock Performance

The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16. The firm has a market cap of £403.87 million, a PE ratio of -2.83 and a beta of 1.29. The stock’s 50 day moving average price is GBX 287.65 and its 200 day moving average price 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.