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

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

Other research analysts have also recently issued reports about the company. Acumen Capital reduced their price objective on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research note on Friday, February 16th. BMO Capital Markets reduced their price objective on Mullen Group from C$16.00 to C$14.50 in a research note on Friday. TD Securities raised their target price on Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Scotiabank dropped their target price on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Cormark raised their target price on Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$17.89.

Mullen Group Stock Performance

Shares of TSE:MTL traded up C$0.09 during trading on Friday, hitting C$13.21. The stock had a trading volume of 387,734 shares, compared to its average volume of 154,776. Mullen Group has a 12-month low of C$12.82 and a 12-month high of C$16.43. The stock has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The company has a quick ratio of 1.06, a current ratio of 0.76 and a debt-to-equity ratio of 78.38. The stock has a 50-day simple moving average of C$14.70 and a two-hundred day simple moving average of C$14.21.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$498.60 million during the quarter, compared to analysts’ expectations of C$500.00 million. On average, equities research analysts expect that Mullen Group will post 1.3498623 earnings per share for the current fiscal year.

About Mullen Group

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.