Tree Island Steel (TSL) Sets New 1-Year Low at $3.21

Tree Island Steel Ltd. (TSE:TSL) hit a new 52-week low during trading on Thursday . The company traded as low as C$3.21 and last traded at C$3.21, with a volume of 2400 shares traded. The stock had previously closed at C$3.25.

TSL has been the topic of a number of research analyst reports. Pi Financial raised their price objective on shares of Tree Island Steel from C$3.25 to C$3.50 in a report on Friday, May 4th. Raymond James upgraded shares of Tree Island Steel from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$3.00 to C$4.00 in a report on Friday, May 4th.

Tree Island Steel (TSE:TSL) last issued its quarterly earnings data on Thursday, May 3rd. The company reported C$0.04 EPS for the quarter. Tree Island Steel had a negative net margin of 3.87% and a negative return on equity of 13.03%. The business had revenue of C$66.49 million for the quarter.

In related news, insider Amar Doman acquired 8,500 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The shares were acquired at an average cost of C$3.04 per share, for a total transaction of C$25,840.00. Over the last 90 days, insiders have purchased 63,550 shares of company stock worth $203,761.

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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