Scotiabank Trims Mullen Group (TSE:MTL) Target Price to C$19.00

Mullen Group (TSE:MTL) had its target price reduced by investment analysts at Scotiabank from C$20.00 to C$19.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 43.83% from the stock’s previous close.

Other research analysts have also issued reports about the company. CIBC raised Mullen Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$16.50 to C$17.00 in a research report on Friday, February 16th. Acumen Capital lowered their target price on Mullen Group from C$19.50 to C$19.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada raised Mullen Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$15.00 to C$17.00 in a research report on Monday, January 22nd. TD Securities lifted their price objective on Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets lowered their price objective on Mullen Group from C$16.00 to C$14.50 in a research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.89.

Mullen Group Trading Up 0.7 %

TSE:MTL traded up C$0.09 during trading hours on Friday, hitting C$13.21. 387,734 shares of the company were exchanged, compared to its average volume of 154,776. 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 current ratio of 0.76, a quick ratio of 1.06 and a debt-to-equity ratio of 78.38. Mullen Group has a one year low of C$12.82 and a one year high of C$16.43. The company has a fifty day simple moving average of C$14.70 and a 200 day simple moving average of C$14.21.

Mullen Group (TSE:MTL) last announced its earnings results 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. The business had revenue of C$498.60 million during the quarter, compared to analyst estimates of C$500.00 million. Mullen Group had a return on equity of 14.03% and a net margin of 6.85%. Sell-side analysts expect that Mullen Group will post 1.3498623 EPS 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.