Auction Technology Group (LON:ATG) Stock Price Up 23.6% – Should You Buy?

Auction Technology Group plc (LON:ATG) shares traded up 23.6% on Monday . The stock 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.

Auction Technology Group News Summary

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

Analyst Upgrades and Downgrades

A number of research firms have commented on ATG. JPMorgan Chase & Co. lifted 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. Berenberg Bank dropped their price target on 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. Royal Bank Of Canada cut their price objective on 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. Finally, Peel Hunt lowered their target price 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 549.

Auction Technology Group Stock Up 23.6%

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

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.