Tree Island Steel Ltd. (TSE:TSL) shares were up 2.7% on Monday . The company traded as high as C$2.22 and last traded at C$2.20. Approximately 163,047 shares were traded during mid-day trading, an increase of 424% from the average daily volume of 31,109 shares. The stock had previously closed at C$2.26.

A number of research analysts recently weighed in on TSL shares. Canaccord Genuity reduced their price objective on shares of Tree Island Steel from C$3.75 to C$3.25 in a research note on Friday, November 3rd. Pi Financial reduced their price objective on shares of Tree Island Steel from C$5.00 to C$3.25 in a research note on Friday, November 3rd. Finally, Raymond James Financial, Inc. reduced their price objective on shares of Tree Island Steel from C$4.00 to C$3.00 and set a “market perform” rating for the company in a research note on Friday, November 3rd.

In other news, insider Island Steel Ltd. (Former Tree purchased 65,600 shares of Tree Island Steel stock in a transaction dated Tuesday, September 26th. The stock was purchased at an average cost of C$3.10 per share, for a total transaction of C$203,360.00.

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About Tree Island Steel

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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