Canaccord Genuity Boosts Mullen Group (MTL) Price Target to C$13.75

Mullen Group (TSE:MTL) had its target price hoisted by research analysts at Canaccord Genuity from C$13.50 to C$13.75 in a research note issued on Wednesday. Canaccord Genuity’s target price points to a potential upside of 8.87% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on MTL. National Bank Financial dropped their target price on shares of Mullen Group from C$18.50 to C$16.50 and set an “outperform” rating for the company in a research report on Friday, January 25th. Raymond James upgraded shares of Mullen Group from a “market perform” rating to an “outperform” rating and set a C$15.60 target price for the company in a research report on Friday, February 1st. TD Securities increased their target price on shares of Mullen Group from C$12.50 to C$14.00 and gave the stock a “hold” rating in a research report on Thursday, February 7th. GMP Securities dropped their target price on shares of Mullen Group from C$13.50 to C$12.50 in a research report on Friday, February 8th. Finally, BMO Capital Markets dropped their target price on shares of Mullen Group from C$16.00 to C$13.00 in a research report on Friday, February 8th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$15.70.

Shares of Mullen Group stock traded down C$0.05 during mid-day trading on Wednesday, reaching C$12.63. 173,902 shares of the stock were exchanged, compared to its average volume of 337,487. The stock has a market capitalization of $1.29 billion and a P/E ratio of -30.07. The company has a quick ratio of 1.61, a current ratio of 1.94 and a debt-to-equity ratio of 57.03. Mullen Group has a fifty-two week low of C$11.26 and a fifty-two week high of C$16.93.

Mullen Group (TSE:MTL) last announced its earnings results on Wednesday, February 6th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.02). The company had revenue of C$333.30 million for the quarter, compared to analyst estimates of C$330.75 million. On average, equities analysts anticipate that Mullen Group will post 0.72000002923858 earnings per share for the current year.

About Mullen Group

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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Analyst Recommendations for Mullen Group (TSE:MTL)

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