Mullen Group (TSE:MTL) had its price target lowered by investment analysts at Canaccord Genuity from C$11.00 to C$10.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity’s target price points to a potential upside of 11.35% from the stock’s current price.
Several other brokerages have also issued reports on MTL. Raymond James reiterated a “hold” rating on shares of Snc-Lavalin Group in a report on Wednesday, July 3rd. GMP Securities lowered Mullen Group from a “hold” rating to a “reduce” rating and cut their price objective for the stock from C$12.00 to C$9.25 in a report on Friday, April 26th. CIBC upgraded Mullen Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 3rd. TD Securities upgraded Mullen Group from a “hold” rating to a “buy” rating and set a C$13.50 price objective for the company in a report on Monday, June 24th. Finally, National Bank Financial upgraded Cineplex to a “buy” rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Mullen Group presently has an average rating of “Buy” and an average price target of C$13.97.
Shares of TSE:MTL traded down C$0.10 during midday trading on Tuesday, hitting C$9.43. 94,936 shares of the stock were exchanged, compared to its average volume of 315,648. The company has a quick ratio of 1.50, a current ratio of 1.82 and a debt-to-equity ratio of 61.72. Mullen Group has a 52-week low of C$9.36 and a 52-week high of C$16.93. The stock’s fifty day moving average is C$9.75. The company has a market cap of $1.04 billion and a P/E ratio of -29.35.
Mullen Group Company Profile
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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