Stifel Nicolaus Lowers Algoma Steel Group (TSE:ASTL) Price Target to C$15.00

Algoma Steel Group (TSE:ASTL) had its price target cut by Stifel Nicolaus from C$16.00 to C$15.00 in a research note issued on Tuesday, BayStreet.CA reports. Stifel Nicolaus’ target price points to a potential upside of 33.81% from the company’s current price.

ASTL has been the subject of a number of other research reports. Cormark decreased their price objective on Algoma Steel Group from C$17.50 to C$17.00 in a report on Tuesday, March 26th. Beacon Securities downgraded Algoma Steel Group from a “buy” rating to a “hold” rating and raised their price target for the company from C$11.00 to C$14.00 in a report on Tuesday, January 2nd. Finally, BMO Capital Markets reduced their price target on Algoma Steel Group from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th.

Algoma Steel Group Trading Down 1.8 %

Shares of TSE:ASTL traded down C$0.20 during trading on Tuesday, reaching C$11.21. 13,000 shares of the company traded hands, compared to its average volume of 56,792. The firm has a market capitalization of C$1.17 billion, a price-to-earnings ratio of 17.53 and a beta of 1.52. Algoma Steel Group has a 52-week low of C$8.64 and a 52-week high of C$13.54. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83. The business’s fifty day moving average is C$11.06 and its 200-day moving average is C$10.95.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.