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

Key Points

• Auction Technology Group's stock price fell by 21.7% after Deutsche Bank lowered its price target from GBX 910 to GBX 815, though it still maintains a buy rating on the stock.
• Other brokerages like Berenberg Bank and JPMorgan also reduced their target prices for ATG, reflecting a broader consensus of caution among analysts.
• The company's market cap stands at £462.53 million, with notable financial metrics such as a P/E ratio of 45.73 and a debt-to-equity ratio of 18.16.

Auction Technology Group plc (LON:ATG - Get Free Report) shares dropped 21.7% 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 were traded 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).

A number of other equities research analysts also recently weighed in on ATG. JPMorgan Chase & Co. dropped their price target 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. Berenberg Bank dropped their price objective on Auction Technology Group from GBX 660 ($8.88) to GBX 560 ($7.53) and set a "buy" rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on 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.

Auction Technology Group Trading Up 0.4%

The firm has a 50-day moving average of GBX 459.85 and a two-hundred day moving average of 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. The firm has a market capitalization of £432.37 million, a P/E 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”).