1 time Within The Past Five Days, Algoma Steel Group Inc. (ASTL) Hit A New High

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Algoma Steel Group Inc. (NASDAQ:ASTL) traded with an addition of $0.13 to $7.91 on Thursday, an upside of 1.61 percent. An average of 1,097,932 shares of common stock have been traded in the last five days. There was a fall of -$0.61 in the past week. The last 20 days have seen an average of 1,175,893 shares traded, while the 50-day average volume stands at 2,081,941.

ASTL stock has decreased by -11.49% in the last month. The company shares reached their 1-month lowest point of $7.77 on 09/21/22. Shares of the company touched a low of $7.75 and a high of $13.65 in 52 weeks. It has reached a new high 7 times so far this year and lost -28.03% or -$2.93 in price. In spite of this, the price is down -42.09% from the 52-week high.


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Valuation Metrics

Algoma Steel Group Inc. (ASTL) has a trailing price-to-earnings (P/E) ratio of 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.28, the price-to-book (PB) ratio at 0.74, and the price-to-cash flow ratio at 0.94.

The company has a payout ratio of 2.00%. The company’s most recent quarterly dividend payment was $0.05 a share, without any change from last year. Its latest increase dividend $0.0105 reported on Thursday June 16 2022.

Financial Health

The quick ratio of Algoma Steel Group Inc. for the three months ended June 29 was 1.50, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.06 and a total debt to equity ratio of 0.07 for the quarter ending June 29. Its gross profit as reported stood at $1.21 billion compared to revenue of $3.04 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Algoma Steel Group Inc.’s return on assets was 36.50%.

Earnings Surprise

The analyst consensus anticipated Algoma Steel Group Inc.’s latest quarter earnings to come in at $1.47 per share, but it turned out to be $1.49, a 1.40% surprise. For the quarter, EBITDA amounted to $275.26 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Algoma Steel Group Inc. (ASTL) price momentum. RSI 9-day as of the close on 21 September was 26.81%, suggesting the stock is oversold, with historical volatility in this time frame at 18.15%.

As of today, ASTL’s price is $8.04 -7.24% or -$0.61 from its 5-day moving average. ASTL is currently trading -19.46% lower than its 20-day SMA and -17.61% lower than its 100-day SMA. However, the stock’s current price level is -12.68% below the SMA50 and -19.38% below the SMA200.

The stochastic %K and %D were 3.17% and 5.28%, respectively, and the average true range (ATR) was 0.32. With the 14-day stochastic at 6.05% and the average true range at 0.33, the RSI (14) stands at 32.23%. The stock has reached -0.55 on the 9-day MACD Oscillator while the 14-day reading was at -0.79.

Analyst Ratings

Stifel launched coverage on Algoma Steel Group Inc. (NASDAQ: ASTL) in its analyst report released on June 30, 2022. The firm assigned the stock a Hold rating. The consensus rating for Algoma Steel Group Inc. (ASTL) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ASTL, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.

What is ASTL’s price target for the next 12 months?

Analysts predict a range of price targets between $14.00 and $19.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Algoma Steel Group Inc. (ASTL) stock is $17.20.

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