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

Auction Technology Group plc (LON:ATG) 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 changed 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.

Key Headlines Impacting 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.

Analyst Upgrades and Downgrades

ATG has been the subject of a number of recent analyst reports. Berenberg Bank lowered their price target on Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a research note on Thursday, November 27th. JPMorgan Chase & Co. upped their target price on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the company 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 on the stock in a report on Tuesday, December 2nd. Finally, Peel Hunt decreased their price target on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating for the company in a report 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 549.

Auction Technology Group Stock Performance

The stock has a market cap of £438.34 million, a P/E ratio of -3.06 and a beta of 1.29. The company has a debt-to-equity ratio of 18.16, a current ratio of 0.62 and a quick ratio of 1.36. The stock’s 50 day simple moving average is GBX 291.14 and its two-hundred 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.