National Bank Financial lowered shares of Mullen Group (TSE:MTL) from an outperform rating to a sector perform rating in a report published on Thursday morning, BayStreet.CA reports. National Bank Financial currently has C$11.00 price target on the stock, down from their previous price target of C$13.00.
MTL has been the topic of several other research reports. Royal Bank of Canada lowered their price target on Mullen Group from C$15.00 to C$14.00 and set an outperform rating on the stock in a report on Friday, April 26th. GMP Securities upgraded Mullen Group from a reduce rating to a hold rating and increased their price target for the company from C$8.75 to C$9.50 in a report on Friday, July 26th. CIBC upgraded Mullen Group from a neutral rating to an outperform rating in a report on Wednesday, July 3rd. Raymond James reiterated a strong-buy rating and set a C$12.50 price target on shares of Mullen Group in a report on Thursday, July 25th. Finally, Canaccord Genuity lowered their price objective on shares of Mullen Group from C$11.00 to C$10.50 in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Mullen Group presently has an average rating of Buy and an average target price of C$12.00.
Shares of MTL stock opened at C$8.95 on Thursday. Mullen Group has a 12 month low of C$8.65 and a 12 month high of C$16.93. The company has a quick ratio of 2.69, a current ratio of 3.18 and a debt-to-equity ratio of 67.24. The business’s 50 day moving average is C$9.61 and its two-hundred day moving average is C$10.78. The company has a market cap of $924.56 million and a PE ratio of -57.74.
About Mullen Group
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 transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.
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