Stifel Nicolaus Has Lowered Expectations for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price objective reduced by Stifel Nicolaus from C$15.25 to C$14.75 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 121.47% from the company’s previous close.

Separately, BMO Capital Markets cut their price objective on Algoma Steel Group from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th.

Algoma Steel Group Price Performance

ASTL stock opened at C$6.66 on Thursday. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. The company’s fifty day moving average price is C$8.74 and its 200-day moving average price is C$12.05. Algoma Steel Group has a one year low of C$5.91 and a one year high of C$16.83. The company has a market capitalization of C$691.77 million, a PE ratio of -4.57 and a beta of 1.50.

About Algoma Steel Group

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.