Auction Technology Group (LON:ATG) Trading 13% Higher – Still a Buy?

Auction Technology Group plc (LON:ATG) shares were up 13% during trading on Friday . The company traded as high as GBX 370 and last traded at GBX 363.30. Approximately 2,343,193 shares traded hands during mid-day trading, an increase of 135% from the average daily volume of 996,750 shares. The stock had previously closed at GBX 321.50.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ATG shares. Berenberg Bank reduced 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 decreased their price target 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. Peel Hunt dropped their price objective on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a report on Friday, November 28th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Auction Technology Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 549.

Auction Technology Group Trading Up 12.5%

The firm has a 50-day moving average price of GBX 289.68 and a 200-day moving average price of GBX 340.60. The stock has a market cap of £437.94 million, a PE 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.

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.