Mullen Group (TSE:MTL) Given New C$17.50 Price Target at CIBC

Mullen Group (TSE:MTL) had its price objective boosted by analysts at CIBC from C$16.50 to C$17.50 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 13.05% from the company’s previous close.

MTL has been the topic of a number of other reports. Raymond James raised their target price on Mullen Group from C$17.25 to C$18.75 in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Cormark upped their target price on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. TD Securities dropped their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$14.50 to C$17.00 in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.86.

Mullen Group Stock Performance

MTL traded down C$0.03 on Friday, hitting C$15.48. 295,437 shares of the company’s stock were exchanged, compared to its average volume of 194,143. 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 fifty day moving average of C$14.31 and a two-hundred day moving average of C$13.78. Mullen Group has a twelve month low of C$12.47 and a twelve month high of C$15.72. The firm has a market cap of C$1.36 billion, a PE ratio of 11.55, a P/E/G ratio of 1.81 and a beta of 1.82.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.07. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%. The business had revenue of C$495.60 million for the quarter, compared to analysts’ expectations of C$490.50 million.

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.