Raymond James Cuts Mullen Group (TSE:MTL) Price Target to C$16.50

Mullen Group (TSE:MTL) had its price target lowered by equities researchers at Raymond James from C$17.00 to C$16.50 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price target would suggest a potential upside of 24.91% from the company’s current price.

Several other research firms have also recently commented on MTL. TD Securities raised their price target on Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a report on Friday, February 16th. Royal Bank of Canada raised Mullen Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$15.00 to C$17.00 in a report on Monday, January 22nd. BMO Capital Markets reduced their price target on Mullen Group from C$16.00 to C$14.50 in a report on Friday. Cormark raised their price target on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Finally, National Bankshares reduced their price target on Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$17.89.

Mullen Group Stock Performance

Mullen Group stock traded up C$0.09 during mid-day trading on Friday, reaching C$13.21. 387,734 shares of the company were exchanged, compared to its average volume of 154,776. Mullen Group has a twelve month low of C$12.82 and a twelve month high of C$16.43. The firm’s 50-day simple moving average is C$14.70 and its two-hundred day simple moving average is C$14.21. 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 has a market cap of C$1.16 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79.

Mullen Group (TSE:MTL) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$500.00 million. Equities analysts predict that Mullen Group will post 1.3498623 earnings per share 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.