Algoma Steel Group (TSE:ASTL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Algoma Steel Group (TSE:ASTL - Get Free Report) had its price target raised by stock analysts at Stifel Nicolaus from C$20.00 to C$22.00 in a report issued on Friday,BayStreet.CA reports. Stifel Nicolaus' price objective suggests a potential upside of 40.04% from the stock's current price.Get Algoma Steel Group alerts:Separately, BMO Capital Markets upped their price objective on Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th.View Our Latest Report on Algoma Steel GroupAlgoma Steel Group Stock Down 1.3 %ASTL traded down C$0.21 during trading hours on Friday, hitting C$15.71. 17,229 shares of the company's stock were exchanged, compared to its average volume of 58,336. The firm has a market cap of C$1.64 billion, a P/E ratio of -71.41 and a beta of 1.50. Algoma Steel Group has a 12-month low of C$9.16 and a 12-month high of C$16.83. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. The firm has a 50 day moving average of C$14.29 and a 200 day moving average of C$12.40. Insider Transactions at Algoma Steel GroupIn other Algoma Steel Group news, Director Michael Allan Mcquade sold 36,260 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$13.80, for a total transaction of C$500,388.00. Also, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90. Insiders own 7.57% of the company's stock. Algoma Steel Group Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Algoma Steel GroupAsset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?Tesla Investors Continue to Profit From the Trump TradeBuy P&G Now, Before It Sets A New All-Time HighMicroStrategy’s Stock Dip vs. Coinbase’s Potential RallyProcter & Gamble NYSE: PG Pulls Back After Shaky GuidanceNetflix Ventures Into Live Sports, Driving Stock MomentumThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Buffett Dumps $982 Million in BofA Stock—What Does He Know? (From Genesis Gold Group) (Ad)Should you invest $1,000 in Algoma Steel Group right now?Before you consider Algoma Steel Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Algoma Steel Group wasn't on the list.While Algoma Steel Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here