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

Mullen Group (TSE:MTL) had its price target boosted by research analysts at CIBC from C$16.50 to C$17.50 in a research note issued on Friday, BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 14.68% from the stock’s previous close.

A number of other equities analysts have also commented on MTL. Raymond James raised their price objective on Mullen Group from C$17.25 to C$18.75 in a research note on Friday. Cormark lifted their price target on Mullen Group from C$18.75 to C$19.50 in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. TD Securities decreased their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, BMO Capital Markets upgraded Mullen Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$14.50 to C$17.00 in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$18.86.

Mullen Group Stock Performance

TSE:MTL opened at C$15.26 on Friday. The stock has a market cap of C$1.34 billion, a P/E ratio of 11.39, a PEG ratio of 1.81 and a beta of 1.82. The stock has a 50 day simple moving average of C$14.33 and a 200 day simple moving average of C$13.78. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$15.72.

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

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.