Auction Technology Group (LON:ATG) Trading Down 21.7% on Analyst Downgrade

Key Points

• Auction Technology Group's shares fell by 21.7% after Deutsche Bank downgraded their price target from GBX 910 to GBX 815, although the bank still holds a buy rating on the stock.
• JPMorgan Chase also revised their price target down from GBX 725 to GBX 710 while maintaining an "overweight" rating, and Berenberg Bank lowered their target from GBX 660 to GBX 560 with a "buy" rating.
• During trading, Auction Technology Group saw a significant increase in volume, with approximately 2,084,420 shares traded, which is 228% higher than the average daily volume.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) were down 21.7% during mid-day trading on Tuesday 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 370 ($4.98) and last traded at GBX 376 ($5.06). Approximately 2,084,420 shares changed hands during mid-day trading, an increase of 228% from the average daily volume of 636,357 shares. The stock had previously closed at GBX 480 ($6.46).

Other analysts have also recently issued research reports about the company. Berenberg Bank lowered their price target on 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. 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 research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Auction Technology Group from GBX 910 ($12.24) to GBX 815 ($10.96) and set a "buy" rating for the company in a research note on Monday.

Auction Technology Group Stock Up 0.4%

The company has a debt-to-equity ratio of 18.16, a quick ratio of 1.36 and a current ratio of 0.62. The stock's 50 day moving average price is GBX 459.85 and its 200-day moving average price is GBX 533.90. The company has a market cap of £432.37 million, a PE ratio of 42.75 and a beta of 1.29.

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”).