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

Mullen Group (TSE:MTL) had its target price decreased by analysts at Scotiabank from C$20.00 to C$19.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 43.83% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Raymond James raised their target price on shares of Mullen Group from C$16.00 to C$17.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Cormark raised their target price on shares of Mullen Group from C$19.50 to C$20.00 in a report on Friday, February 16th. CIBC upgraded shares of 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 report on Friday, February 16th. National Bankshares dropped 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 report on Friday. Finally, Royal Bank of Canada upgraded shares of Mullen Group from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$15.00 to C$17.00 in a report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$17.89.

Mullen Group Stock Up 0.7 %

Shares of TSE MTL traded up C$0.09 on Friday, reaching C$13.21. 387,734 shares of the company’s stock traded hands, compared to its average volume of 154,776. The company has a market cap 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 quick ratio of 1.06, a current ratio of 0.76 and a debt-to-equity ratio of 78.38. The business’s 50 day simple moving average is C$14.70 and its two-hundred day simple moving average is C$14.21. Mullen Group has a 12 month low of C$12.82 and a 12 month high of C$16.43.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.34 earnings per share for the quarter, beating the consensus estimate of C$0.32 by C$0.02. The company had revenue of C$498.60 million during the quarter, compared to the consensus estimate of C$500.00 million. Mullen Group had a net margin of 6.85% and a return on equity of 14.03%. As a group, equities research analysts forecast that Mullen Group will post 1.3498623 EPS for the current fiscal year.

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.