CIBC Increases Mullen Group (TSE:MTL) Price Target to C$17.50

Mullen Group (TSE:MTL) had its price target boosted by investment analysts at CIBC from C$16.50 to C$17.50 in a research note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 13.05% from the stock’s current price.

A number of other research firms have also weighed in on MTL. Cormark increased their price target on Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. Raymond James lifted their target price on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday. TD Securities decreased their price objective on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research report on Friday, July 26th. Finally, BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$14.50 to C$17.00 in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Price Performance

Shares of TSE MTL traded down C$0.03 during midday trading on Friday, reaching C$15.48. The company’s stock had a trading volume of 295,437 shares, compared to its average volume of 194,143. The company has a market cap of C$1.36 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. Mullen Group has a one year low of C$12.47 and a one year high of C$15.72. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The company has a 50 day moving average price of C$14.31 and a 200 day moving average price of C$13.78.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.07. The company had revenue of C$495.60 million during the quarter, compared to the consensus estimate of C$490.50 million. Mullen Group had a return on equity of 12.74% and a net margin of 6.30%.

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.