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Pin to quick picksAuction Technology Group Share News (ATG)

Share Price Information for Auction Technology Group (ATG)

London Stock Exchange
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Share Price: 576.00
Bid: 574.00
Ask: 576.00
Change: -2.00 (-0.35%)
Spread: 2.00 (0.348%)
Open: 581.00
High: 581.00
Low: 571.00
Prev. Close: 578.00
ATG Live PriceLast checked at -

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Sunday share tips: The Auction Group, SSP Group

Sun, 12th Jun 2022 17:47

(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Auction Technology Group to readers, saying they offered "clear, long-term potential".

After floating at 600.0p in February of 2021, they subsequently ran up to over 1,600.0p before drifting back down towards 943.0p.

The company, which Midas said was an "undisputed leader" in online auctions, traces its roots back to the start of the 1970s and its range of auctions span everything from art, antiques to collectables through to industrial machinery and food processing kit.

It sells 30m items annually valued at over £2bn through between 60-100 auctions per week, including in the US.

ATG also helps thousands of auction houses to find more bidders and buyers a wider range of goods.

Midas conceded there were worries that a recession might negatively impact on business but said that there were "strong grounds for optimism" nonetheless.

"Over half ATG's revenues come from industrial goods and sales tend to rise when times are hard and businesses close down or offload goods to generate cash," it explained.

Furthermore, retailers including Marks&Spencer used it to sell excess stock and most of ATG's sales were for less than the £5,000, driven by the what some termed the 4D's - death, divorce, downsizing and debt.

Brokers' estimates were for a 65% jump in full-year sales to reach £116m and a 80% leap in profits to £40m with more growth anticipated for 2023.

"Auction Technology Group is a fast-growing, well managed business at the forefront of its field. The shares, at £9.43, are a buy."

The Sunday Times's Lucy Tobin recommended shares of SSP Group citing building momentum in the recovery of the business and its well-regarded boss.

The company, which runs cafés at airports and stations across 35 countries from Finland to China returned to operating during the first half of its financial year, despite only 72% of its estate having reopened.

And with pent-up demand for summer holidays right ahead and the return to dining "al desko", sales hit 83% of their 2019 levels over the six weeks since the end of the half.

That performance also appeared to have been enough for chief executive officer, Patrick Coveney to tuck in.

"Watching long-delayed travellers hurl money at SSP-operated Burger King and Starbucks at Luton last week, I could see why new chief executive Patrick Coveney has spent £1.6 million on 630,000 shares in SSP," Tobin said.

She also noted the 11% crash in Greencore shares, Coveney's former employer, upon news of his move to SSP.

Furthermore, the company expected to return to pre-Covid sales levels by 2024 and broker Liberum believed there was margin for SSP to reinstate its dividend even as it invested as much as £475m into its expansion starting from as early as 2023.

"SSP is worthy of some investor appetite: buy."

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2 Dec 2021 09:09

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IN BRIEF: Auction Technology Group completes LiveAuctioneers deal

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Auction Technology gets LiveAuctioneers takeover regulator approval

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29 Sep 2021 07:49

Auction Technology gets regulatory clearances for LiveAuctioneers deal

(Sharecast News) - Online auction platform Auction Technology has now received all antitrust and regulatory clearances - including from the UK's Competition and Markets Authority - for its acquisition of LiveAuctioneers.

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2 Sep 2021 12:15

Auction Technology slumps as TA Associates, ECI Partners sell 12.6m shares

(Sharecast News) - Auction Technology tumbled on Thursday after TA Associates and ECI Partners sold around 12.6m shares in the company in a placing.

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2 Sep 2021 10:27

Two Auction Technology investors sell GBP189 million in shares

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1 Sep 2021 18:01

Private equity firms to offload 10% stake in Auction Technology Group

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10 Aug 2021 19:25

IN BRIEF: UK watchdog probes Auction Technology's Live Auctioneers buy

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2 Aug 2021 09:11

UK watchdog mulls probe of Auction Technology's LiveAuctioneers buy

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13 Jul 2021 18:18

IN BRIEF: Third Point dismisses shareholder request for policy change

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18 Jun 2021 08:41

TOP NEWS: Auction Technology raises GBP244 million for LiveAuctioneers

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17 Jun 2021 17:54

Auction Technology to acquire LiveAuctioneers for USD525 million

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3 Jun 2021 15:50

UK dividends calendar - next 7 days

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