Mullen Group (TSE:MTL) Price Target Cut to C$21.00

Mullen Group (TSE:MTL) had its target price cut by research analysts at TD Securities from C$22.00 to C$21.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 48.41% from the stock’s previous close.

Several other brokerages also recently issued reports on MTL. CIBC raised their target price on shares of Mullen Group from C$15.50 to C$16.50 in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Raymond James boosted their target price on Mullen Group from C$16.50 to C$17.00 in a report on Friday, July 26th. BMO Capital Markets raised Mullen Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$14.50 to C$17.00 in a report on Friday, July 26th. Finally, Cormark upped their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Mullen Group has an average rating of “Moderate Buy” and an average target price of C$18.22.

Mullen Group Trading Up 1.4 %

TSE MTL opened at C$14.15 on Wednesday. Mullen Group has a 12 month low of C$12.47 and a 12 month high of C$15.71. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The stock has a 50 day moving average of C$14.07 and a 200-day moving average of C$13.84. The company has a market cap of C$1.24 billion, a PE ratio of 10.56, a PEG ratio of 1.81 and a beta of 1.83.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.30 by C$0.07. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The firm had revenue of C$495.60 million for the quarter, compared to analyst estimates of C$490.50 million. On average, equities research analysts anticipate that Mullen Group will post 1.3508103 EPS for the current fiscal year.

Mullen Group Company Profile

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.