Auction Technology Group (LON:ATG) Hits New 12-Month Low on Analyst Downgrade

Key Points

• Shares of Auction Technology Group plc reached a new 52-week low of GBX 345 ($4.59) after the Royal Bank of Canada downgraded their price target from GBX 500 to GBX 415.
• Other analysts, including Deutsche Bank and JPMorgan Chase, have also adjusted their price targets downward, with ratings ranging from "buy" to "overweight."
• The company currently has a market capitalization of £430.52 million and a PE ratio of 42.57, indicating some concerns about its valuation in the market.

Auction Technology Group plc (LON:ATG - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from GBX 500 to GBX 415. Royal Bank Of Canada currently has a sector perform rating on the stock. Auction Technology Group traded as low as GBX 345 ($4.64) and last traded at GBX 348.50 ($4.69), with a volume of 856396 shares changing hands. The stock had previously closed at GBX 367.50 ($4.94).

ATG has been the subject of a number of other research reports. Berenberg Bank lowered their target price on Auction Technology Group from GBX 660 ($8.87) to GBX 560 ($7.53) and set a "buy" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on 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, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Auction Technology Group from GBX 910 ($12.23) to GBX 815 ($10.96) and set a "buy" rating for the company in a research report on Monday, August 4th.

Auction Technology Group Stock Performance

The company has a fifty day moving average price of GBX 457.55 and a 200 day moving average price of GBX 531.76. The stock has a market cap of £420.02 million, a P/E ratio of 41.53 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.

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”).