Algoma Steel Group Inc. (NASDAQ:ASTL) saw a downside of -2.55% to close Friday at $7.26 after subtracting -$0.19 on the day. The 5-day average trading volume is 1,448,320 shares of the company’s common stock. It has gained $7.82 in the past week and touched a new high 1 time within the past 5 days. An average of 748,965 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 796,144.
ASTL’s 1-month performance is 1.26% or $0.15 on its low of $6.69 reached on 08/10/23. The company’s shares have touched a 52-week low of $5.64 and high of $9.94, with the stock’s rally to the 52-week high happening on 03/03/23. YTD, ASTL has achieved 14.51% or $0.92 and has reached a new high 13 times. However, the current price is down -26.98% from the 52-week high price.
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Valuation Metrics
ASTL stock has a beta of 1.44. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.39 while the price-to-book (PB) in the most recent quarter is 0.73, with the price to cash flow ratio at 17.15.
Algoma Steel Group Inc.’s quick ratio for the period ended June 29 was 1.90, with the current ratio over the same period at 4.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.08, while the total debt to equity was 0.08. In terms of profitability, the gross margin trailing 12 months is 8.40%. The trailing 12-month EBITDA margin is 13.89% while for the period ending June 29, Algoma Steel Group Inc.’s operating margin was 21.50%. The firm’s gross profit as reported stood at $294.88 million against revenue of $2.1 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.0% to $657.0 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected ASTL to announce $0.98 per share in earnings in its latest quarter, but it posted $0.85, representing a -13.30% surprise. EBITDA for the quarter stood at more than $139.54 million. ASTL stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 809.92 million, with total debt at $129.7 million.
Let’s look briefly at Algoma Steel Group Inc. (ASTL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 49.92% to suggest the stock is trending Neutral, with historical volatility in this time period at 62.80%.
The stock’s 5-day moving average is $7.51, reflecting a +4.46% or $0.31 change from its current price. ASTL is currently trading +1.40% above its 20-day SMA, -3.46% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.47% and SMA200 by+6.61%.
Stochastic %K and %D was 61.97% and 71.76% and the average true range (ATR) pointed at 0.30. The RSI (14) points at 50.21%, while the 14-day stochastic is at 50.22% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at 0.16 and 0.20 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Algoma Steel Group Inc. (NASDAQ: ASTL), Stifel upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for ASTL stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate ASTL as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.
What is ASTL’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $11.00 and a high of $14.00, with their median price target at $12.75. Looking at these predictions, the average price target given by analysts is for Algoma Steel Group Inc. (ASTL) stock is $12.63.
