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

Mullen Group (TSE:MTL)‘s stock had its “outperform” rating reiterated by stock analysts at CIBC in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. They presently have a C$14.75 target price on the stock. CIBC’s target price points to a potential upside of 10.32% from the company’s current price.

MTL has been the subject of several other reports. Raymond James set a C$13.50 price objective on Mullen Group and gave the stock a “market perform” rating in a report on Thursday. Cormark lifted their price objective on Mullen Group from C$15.50 to C$16.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. National Bankshares lifted their price objective on Mullen Group from C$14.50 to C$15.25 and gave the stock an “outperform” rating in a report on Monday, April 19th. TD Securities lifted their price objective on Mullen Group from C$18.00 to C$18.50 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a C$15.00 price target on shares of Mullen Group in a research report on Monday, July 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$15.23.

Shares of MTL traded up C$0.67 during mid-day trading on Thursday, hitting C$13.37. The company’s stock had a trading volume of 552,982 shares, compared to its average volume of 288,597. The company has a debt-to-equity ratio of 67.25, a current ratio of 3.30 and a quick ratio of 2.86. The business has a 50-day moving average of C$12.90. The stock has a market capitalization of C$1.30 billion and a price-to-earnings ratio of 18.24. Mullen Group has a 1-year low of C$8.28 and a 1-year high of C$13.95.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Wednesday, April 21st. The company reported C$0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.10 by C$0.02. The firm had revenue of C$290.50 million for the quarter, compared to analyst estimates of C$310.20 million. Sell-side analysts anticipate that Mullen Group will post 0.8613554 EPS 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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