Shares of Tree Island Steel Ltd. (TSE:TSL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$3.40 and last traded at C$3.47, with a volume of 7100 shares traded. The stock had previously closed at C$3.49.
A number of brokerages have issued reports on TSL. Raymond James upgraded shares of Tree Island Steel from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$3.00 to C$4.00 in a research note on Friday, May 4th. Pi Financial boosted their price target on shares of Tree Island Steel from C$3.25 to C$3.50 in a research note on Friday, May 4th.
Get Tree Island Steel alerts:Tree Island Steel (TSE:TSL) last released its earnings results on Thursday, May 3rd. The company reported C$0.04 earnings per share for the quarter. Tree Island Steel had a negative net margin of 3.87% and a negative return on equity of 13.03%. The firm had revenue of C$66.49 million for the quarter.
In other news, insider Amar Doman bought 30,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were purchased at an average cost of C$3.40 per share, for a total transaction of C$102,680.00. Insiders have purchased 49,550 shares of company stock worth $156,634 over the last 90 days.
Tree Island Steel Company Profile
Tree Island Steel Ltd. manufactures and sells steel wire and wire products for industrial, construction, agricultural, and specialty applications in Canada, the United States, and internationally. It offers industrial products, such as pulp and unitizing, waste, chain link, upholstery, low carbon, and shaped wires, as well as bar/straight and cut bars; and wirelines for use in the oil industry.
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