Berenberg Bank Has Lowered Expectations for Auction Technology Group (LON:ATG) Stock Price

Key Points

• Berenberg Bank has lowered Auction Technology Group's price target from GBX 660 to GBX 560, while maintaining a "buy" rating, indicating a potential upside of 49.57% from the current share price.
• JPMorgan Chase & Co. also reduced its price target on the stock from GBX 725 to GBX 710, assigning an "overweight" rating.
• Auction Technology Group's stock opened at GBX 374.41, with a market cap of £462.53 million and a PE ratio of 45.73.

Auction Technology Group (LON:ATG - Free Report) had its target price lowered by Berenberg Bank from GBX 660 ($8.88) to GBX 560 ($7.53) in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Auction Technology Group from GBX 725 ($9.75) to GBX 710 ($9.55) and set an "overweight" rating for the company in a research report on Tuesday.

Auction Technology Group Price Performance

ATG traded up GBX 1.50 ($0.02) during trading on Monday, hitting GBX 350 ($4.71). The company's stock had a trading volume of 554,287 shares, compared to its average volume of 635,784. The firm has a market capitalization of £432.37 million, a price-to-earnings ratio of 42.75 and a beta of 1.29. Auction Technology Group has a twelve month low of GBX 345 ($4.64) and a twelve month high of GBX 658 ($8.85). The business's fifty day simple moving average is GBX 459.85 and its 200 day simple moving average is GBX 533.90. 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 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”).