Tree Island Steel Ltd. (TSL) Shares Down 1.3%

Tree Island Steel Ltd. (TSE:TSL) fell 1.3% on Friday . The stock traded as low as C$2.36 and last traded at C$2.43. 12,625 shares traded hands during trading, a decline of 59% from the average session volume of 31,103 shares. The stock had previously closed at C$2.40.

Several brokerages recently weighed in on TSL. Raymond James Financial, Inc. dropped their target price on Tree Island Steel from C$4.00 to C$3.00 and set a “market perform” rating for the company in a report on Friday, November 3rd. Pi Financial dropped their target price on Tree Island Steel from C$5.00 to C$3.25 in a report on Friday, November 3rd. Finally, Canaccord Genuity dropped their target price on Tree Island Steel from C$3.75 to C$3.25 in a report on Friday, November 3rd.

In other Tree Island Steel news, insider Island Steel Ltd. (Former Tree acquired 65,600 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was acquired at an average price of C$3.10 per share, for a total transaction of C$203,360.00.

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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 residential products, including bulk nails, collated nails, packaged nails and fasteners, bulk screws, and packaged nails and fasteners, as well as nail head identification systems; and woven wires, welded wires, and corners and accessories.

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