Mullen Group (TSE:MTL) Earns Outperform Rating from CIBC

Mullen Group (TSE:MTL)‘s stock had its “outperform” rating reiterated by research analysts at CIBC in a report released on Thursday, Stock Target Advisor reports. They currently have a C$14.75 price target on the stock. CIBC’s price objective would suggest a potential upside of 10.32% from the stock’s current price.

MTL has been the subject of several other reports. TD Securities upped their target price on Mullen Group from C$18.00 to C$18.50 and gave the company a “buy” rating in a report on Thursday. National Bank Financial upped their target price on Mullen Group to C$15.25 and gave the company an “outperform” rating in a report on Monday, April 19th. National Bankshares upped their target price on Mullen Group from C$14.50 to C$15.25 and gave the company an “outperform” rating in a report on Monday, April 19th. Cormark upped their target price on Mullen Group from C$15.50 to C$16.00 and gave the company a “buy” rating in a report on Friday, July 2nd. Finally, Scotiabank increased their price objective on Mullen Group from C$14.25 to C$15.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of C$15.23.

Shares of TSE:MTL traded up C$0.67 during trading on Thursday, hitting C$13.37. 552,982 shares of the company traded hands, compared to its average volume of 288,597. The company has a market capitalization of C$1.30 billion and a PE ratio of 18.24. The stock has a fifty day simple moving average of C$12.90. Mullen Group has a one year low of C$8.28 and a one year high of C$13.95. The company has a quick ratio of 2.86, a current ratio of 3.30 and a debt-to-equity ratio of 67.25.

Mullen Group (TSE:MTL) last posted its earnings results on Wednesday, April 21st. The company reported C$0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.10 by C$0.02. The company had revenue of C$290.50 million for the quarter, compared to the consensus estimate of C$310.20 million. Equities research analysts predict that Mullen Group will post 0.8613554 earnings per share for the current fiscal year.

About Mullen Group

Mullen Group Ltd. provides trucking and logistics services in Canada and the United States. The company operates through three segments: Less-Than-Truckload, Logistics & Warehousing, and Specialized & Industrial Services. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.

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