CIBC Cuts Mullen Group (TSE:MTL) Price Target to C$16.00

Mullen Group (TSE:MTL) had its target price reduced by analysts at CIBC from C$17.00 to C$16.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 22.14% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Scotiabank lowered their target price on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday. National Bankshares lowered their target price on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday. TD Securities upped their target price on shares of Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Cormark boosted their price target on shares of Mullen Group from C$19.50 to C$20.00 in a research report on Friday, February 16th. Finally, Raymond James boosted their price target on shares of Mullen Group from C$16.00 to C$17.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mullen Group presently has a consensus rating of “Moderate Buy” and an average target price of C$17.89.

Mullen Group Stock Performance

TSE:MTL opened at C$13.10 on Friday. The company has a market cap of C$1.15 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.81 and a beta of 1.79. The firm’s 50-day moving average is C$14.64 and its 200-day moving average is C$14.20. Mullen Group has a 52-week low of C$12.82 and a 52-week high of C$16.43. The company has a debt-to-equity ratio of 78.38, a quick ratio of 1.06 and a current ratio of 0.76.

Mullen Group (TSE:MTL) last posted its earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.02. The business had revenue of C$498.60 million for the quarter, compared to analysts’ expectations of C$500.00 million. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. Equities research analysts anticipate that Mullen Group will post 1.3498623 earnings per share for the current 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.