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

Mullen Group (TSE:MTL) had its price objective decreased by equities research analysts at CIBC from C$17.00 to C$16.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 21.12% from the stock’s previous close.

Several other equities analysts have also issued reports on MTL. Cormark lifted their price target on Mullen Group from C$19.50 to C$20.00 in a research note on Friday, February 16th. National Bankshares decreased their price target on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday. Scotiabank decreased their price target 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. Raymond James lifted 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. Finally, BMO Capital Markets lowered their target price on Mullen Group from C$16.00 to C$14.50 in a report on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Mullen Group presently has an average rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Stock Performance

TSE:MTL traded up C$0.09 during mid-day trading on Friday, hitting C$13.21. 387,734 shares of the stock were exchanged, compared to its average volume of 154,776. The stock has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76. The firm’s 50-day simple moving average is C$14.70 and its 200 day simple moving average is C$14.21. Mullen Group has a fifty-two week low of C$12.82 and a fifty-two week high of C$16.43.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) 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 analyst estimates of C$500.00 million. As a group, equities analysts anticipate that Mullen Group will post 1.3498623 EPS for the current fiscal 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.