CIBC Lowers Mullen Group (TSE:MTL) Price Target to C$16.00

Mullen Group (TSE:MTL) had its price objective decreased by equities researchers at CIBC from C$17.00 to C$16.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 21.12% from the company’s current price.

Several other equities analysts have also recently weighed in on MTL. Scotiabank lowered their target price on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada raised Mullen Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$15.00 to C$17.00 in a research note on Monday, January 22nd. Raymond James boosted their price target on Mullen Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Cormark boosted their price target on Mullen Group from C$19.50 to C$20.00 in a research note on Friday, February 16th. Finally, BMO Capital Markets lowered their price target on Mullen Group from C$16.00 to C$14.50 in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Mullen Group has a consensus rating of “Moderate Buy” and an average price target of C$17.89.

Mullen Group Trading Up 0.7 %

MTL traded up C$0.09 during trading on Friday, reaching C$13.21. The company had a trading volume of 387,734 shares, compared to its average volume of 154,776. The firm’s 50-day simple moving average is C$14.70 and its 200 day simple moving average is C$14.21. The company has a market cap of C$1.16 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.81 and a beta of 1.79. Mullen Group has a 12-month low of C$12.82 and a 12-month high of C$16.43. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76.

Mullen Group (TSE:MTL) last released its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating the consensus estimate of C$0.32 by C$0.02. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. The company had revenue of C$498.60 million for the quarter, compared to analysts’ expectations of C$500.00 million. Equities research analysts anticipate that Mullen Group will post 1.3498623 earnings per share for the current year.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.