Royal Bank Of Canada Cuts Auction Technology Group (LON:ATG) Price Target to GBX 415

Key Points

• Royal Bank of Canada has reduced its price target for Auction Technology Group from GBX 500 to GBX 415, suggesting an upside potential of 18.23% from the current price.
• Berenberg Bank and Deutsche Bank also adjusted their price targets, showing a general trend among brokerages to lower expectations for Auction Technology Group.
• The company's stock opened at GBX 351 and has a twelve-month range between GBX 349 and GBX 658.

Auction Technology Group (LON:ATG - Get Free Report) had its target price cut by stock analysts at Royal Bank Of Canada from GBX 500 ($6.72) to GBX 415 ($5.58) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 22.06% from the company's current price.

A number of other equities analysts also recently weighed in on ATG. JPMorgan Chase & Co. lowered their target price on shares of Auction Technology Group from GBX 725 ($9.75) to GBX 710 ($9.55) and set an "overweight" rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Auction Technology Group from GBX 910 ($12.24) to GBX 815 ($10.96) and set a "buy" rating on the stock in a report on Monday, August 4th. Finally, Berenberg Bank lowered their target price on shares of Auction Technology Group from GBX 660 ($8.88) to GBX 560 ($7.53) and set a "buy" rating on the stock in a report on Monday, August 4th.

Auction Technology Group Stock Down 2.9%

Shares of LON ATG traded down GBX 10 ($0.13) during midday trading on Wednesday, reaching GBX 340 ($4.57). The company's stock had a trading volume of 397,636 shares, compared to its average volume of 634,227. The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16. Auction Technology Group has a fifty-two week low of GBX 334 ($4.49) and a fifty-two week high of GBX 658 ($8.85). The stock has a market capitalization of £420.02 million, a price-to-earnings ratio of 41.53 and a beta of 1.29. The stock has a 50 day simple moving average of GBX 457.55 and a 200-day simple moving average of GBX 532.23.

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”).