Auction Technology Group (LON:ATG) Reaches New 52-Week Low After 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.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) hit a new 52-week low during 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 ($4.59) and last traded at GBX 348.50 ($4.63), with a volume of 856396 shares. The stock had previously closed at GBX 367.50 ($4.89).

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their price target on Auction Technology Group from GBX 910 ($12.10) to GBX 815 ($10.84) and set a "buy" rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Auction Technology Group from GBX 725 ($9.64) to GBX 710 ($9.44) and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Berenberg Bank lowered their target price on Auction Technology Group from GBX 660 ($8.78) to GBX 560 ($7.45) and set a "buy" rating for the company in a report on Monday.

Auction Technology Group Stock Performance

The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16. The firm's fifty day moving average price is GBX 464.02 and its two-hundred day moving average price is GBX 536.79. The stock has a market capitalization of £430.52 million, a PE ratio of 42.57 and a beta of 1.29.

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”).

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