CIBC Cuts Mullen Group (TSE:MTL) Price Target to C$15.50

Mullen Group (TSE:MTL) had its price target dropped by research analysts at CIBC from C$16.00 to C$15.50 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 19.51% from the stock’s previous close.

A number of other research firms have also issued reports on MTL. Scotiabank cut their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Raymond James lowered their price objective on shares of Mullen Group from C$17.00 to C$16.50 and set a “market perform” rating on the stock in a research report on Friday, April 26th. BMO Capital Markets lowered their price objective on shares of Mullen Group from C$16.00 to C$14.50 in a research report on Friday, April 26th. Royal Bank of Canada lowered their price objective on shares of Mullen Group from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, National Bankshares lowered their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$17.83.

Mullen Group Trading Down 0.3 %

Shares of MTL stock traded down C$0.04 during trading hours on Wednesday, reaching C$12.97. 103,927 shares of the stock traded hands, compared to its average volume of 167,120. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$16.20. The business has a fifty day moving average price of C$12.93 and a 200 day moving average price of C$14.03. The company has a quick ratio of 1.06, a current ratio of 0.78 and a debt-to-equity ratio of 80.16. The firm has a market capitalization of C$1.14 billion, a PE ratio of 9.47, a PEG ratio of 1.81 and a beta of 1.81.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, April 25th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. The firm had revenue of C$462.60 million for the quarter, compared to analyst estimates of C$501.00 million. On average, equities research analysts forecast that Mullen Group will post 1.2780488 EPS for the current year.

Insider Activity at Mullen Group

In related news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of C$12.90 per share, for a total transaction of C$322,500.00. 6.30% of the stock is currently owned by corporate insiders.

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.