Auction Technology Group (LON:ATG) Shares Up 24% – Should You Buy?

Shares of Auction Technology Group plc (LON:ATG) were up 24% during mid-day trading on Monday . The stock traded as high as GBX 338 and last traded at GBX 336. Approximately 3,339,430 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 3,307,019 shares. The stock had previously closed at GBX 270.95.

Wall Street Analyst Weigh In

ATG has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on 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 for the company in a report on Tuesday, December 2nd. Berenberg Bank decreased their price target on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating on the stock in a research note on Thursday, November 27th. Finally, Peel Hunt dropped their price objective on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 549.

Auction Technology Group Price Performance

The stock’s 50 day moving average price is GBX 287.65 and its 200-day moving average price is GBX 346.56. The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16. The stock has a market capitalization of £403.87 million, a PE ratio of -2.83 and a beta of 1.29.

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.