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

Mullen Group (TSE:MTL) had its price objective decreased by stock analysts at CIBC from C$18.00 to C$15.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 23.36% from the stock’s current price.

Several other research analysts have also issued reports on MTL. Raymond James reduced their target price on shares of Mullen Group from C$18.50 to C$17.50 in a research note on Friday, February 14th. Scotiabank decreased their price objective on Mullen Group from C$20.00 to C$19.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Mullen Group has a consensus rating of “Moderate Buy” and an average target price of C$18.53.

Mullen Group Trading Down 4.0 %

Shares of MTL traded down C$0.51 during trading hours on Thursday, hitting C$12.16. 122,966 shares of the stock traded hands, compared to its average volume of 275,542. The business has a fifty day moving average of C$13.16 and a 200-day moving average of C$14.29. The firm has a market capitalization of C$1.08 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. Mullen Group has a 1-year low of C$11.81 and a 1-year high of C$16.06. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69.

Insider Transactions at Mullen Group

In related news, Senior Officer Joanna Kathryn Scott acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of C$13.23 per share, with a total value of C$26,460.00. Insiders acquired a total of 2,832 shares of company stock worth $37,153 in the last three months. Insiders own 6.32% of the company’s stock.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.