Mullen Group (MTL) Price Target Cut to C$16.00

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Mullen Group (TSE:MTL) had its price objective lowered by equities researchers at National Bank Financial from C$16.50 to C$16.00 in a report released on Thursday. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 39.01% from the company’s current price.

Several other research firms have also issued reports on MTL. Industrial Alliance Securities upgraded Mullen Group from a “buy” rating to a “strong-buy” rating in a report on Friday, October 26th. Canaccord Genuity dropped their target price on Mullen Group from C$17.00 to C$14.50 in a report on Thursday, November 22nd. TD Securities upped their target price on Mullen Group from C$12.50 to C$14.00 and gave the stock a “hold” rating in a report on Thursday. Raymond James boosted their price target on Mullen Group from C$14.85 to C$15.60 and gave the stock a “market perform” rating in a research report on Wednesday, October 17th. Finally, GMP Securities lowered their price target on Mullen Group from C$17.50 to C$16.50 in a research report on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$15.68.

MTL opened at C$11.51 on Thursday. Mullen Group has a 52-week low of C$11.26 and a 52-week high of C$16.93. The stock has a market cap of $1.28 billion and a P/E ratio of 28.28. The company has a debt-to-equity ratio of 49.29, a quick ratio of 1.58 and a current ratio of 1.94.

In other Mullen Group news, Director David Edward Mullen sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of C$13.20, for a total transaction of C$1,980,000.00.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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