Raymond James Issues Pessimistic Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price target lowered by investment analysts at Raymond James from C$18.50 to C$17.50 in a note issued to investors on Friday,BayStreet.CA reports. Raymond James’ target price suggests a potential upside of 29.92% from the company’s current price.

MTL has been the subject of several other research reports. National Bankshares raised their price objective on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. BMO Capital Markets raised their price objective on Mullen Group from C$17.00 to C$20.00 in a research report on Friday, October 25th. CIBC raised their price objective on Mullen Group from C$16.50 to C$17.50 in a research report on Friday, October 25th. Scotiabank lowered their price objective on Mullen Group from C$20.00 to C$19.00 in a research report on Thursday, January 30th. Finally, Cormark lowered their price objective on Mullen Group from C$20.75 to C$19.75 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Trading Up 2.2 %

TSE:MTL traded up C$0.29 during trading hours on Friday, hitting C$13.47. The company had a trading volume of 221,493 shares, compared to its average volume of 220,591. The company has a market capitalization of C$1.20 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The stock has a 50-day moving average price of C$14.80 and a 200 day moving average price of C$14.65. Mullen Group has a 52 week low of C$12.47 and a 52 week high of C$16.06. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06.

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.