Tree Island Steel (TSE:TSL) Given “Market Perform” Rating at Raymond James

Raymond James reissued their market perform rating on shares of Tree Island Steel (TSE:TSL) in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a C$2.50 price target on the stock.

TSE:TSL traded up C$0.02 on Thursday, reaching C$2.20. 700 shares of the stock traded hands, compared to its average volume of 14,466. The stock has a market capitalization of $63.18 million and a price-to-earnings ratio of 167.69. The firm has a 50 day moving average of C$2.16. The company has a debt-to-equity ratio of 189.18, a current ratio of 1.40 and a quick ratio of 0.43. Tree Island Steel has a 1-year low of C$1.88 and a 1-year high of C$2.99.

Tree Island Steel (TSE:TSL) last released its earnings results on Thursday, May 2nd. The company reported C($0.04) EPS for the quarter. The firm had revenue of C$52.94 million during the quarter. On average, sell-side analysts predict that Tree Island Steel will post 0.23 earnings per share for the current fiscal year.

In other Tree Island Steel news, Senior Officer Dale Robert Maclean bought 38,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of C$2.49 per share, for a total transaction of C$94,722.60. Following the purchase, the insider now directly owns 416,050 shares of the company’s stock, valued at approximately C$1,037,087.84. Insiders have bought a total of 49,000 shares of company stock worth $119,023 over the last quarter.

Tree Island Steel Company Profile

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel 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 straight and cut bars; and wirelines for use in the oil industry.

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