Mullen Group Ltd. (MTL) Downgraded to Market Perform at Raymond James Financial Inc.
Raymond James Financial Inc. downgraded shares of Mullen Group Ltd. (TSE:MTL) from an outperform rating to a market perform rating in a report issued on Friday morning. Raymond James Financial Inc. currently has C$16.50 target price on the stock, up from their prior target price of C$16.25.
A number of other equities research analysts have also recently issued reports on MTL. TD Securities boosted their price objective on Mullen Group from C$18.00 to C$19.00 and gave the stock a buy rating in a report on Tuesday, September 13th. AltaCorp Capital restated a sector perform rating on shares of Mullen Group in a report on Monday, August 15th. Scotiabank restated an outperform rating and set a C$16.00 price objective on shares of Mullen Group in a report on Thursday, July 21st. CIBC boosted their price objective on Mullen Group from C$17.00 to C$18.50 in a report on Friday, July 22nd. Finally, Royal Bank Of Canada restated an outperform rating and set a C$19.00 price objective on shares of Mullen Group in a report on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of C$17.94.
Mullen Group (TSE:MTL) traded up 0.30% during midday trading on Friday, reaching $16.62. The company had a trading volume of 96,161 shares. The firm has a 50-day moving average of $16.13 and a 200-day moving average of $15.01. The stock has a market cap of $1.72 billion and a P/E ratio of 34.55. Mullen Group has a 12 month low of $13.02 and a 12 month high of $19.37.
About Mullen Group
Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The Company provides a range of specialized transportation and related services to the oil and natural gas industry in western Canada. The Company operates in two segments: Trucking/Logistics and Oilfield Services. Its Trucking/Logistics segment offers a range of truckload freight services to customers in Canada and the United States.
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