Mullen Group Ltd. (MTL) Lowered to “Market Perform” at Raymond James Financial Inc.
Mullen Group Ltd. (TSE:MTL) was downgraded by equities research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a report issued on Friday. They currently have a C$16.50 target price on the stock, up from their previous target price of C$16.25. Raymond James Financial Inc.’s target price suggests a potential downside of 0.42% from the stock’s previous close.
Several other equities research analysts have also commented on MTL. Scotiabank restated an “outperform” rating and set a C$16.00 target price on shares of Mullen Group in a research report on Thursday, July 21st. TD Securities restated a “buy” rating and set a C$18.00 target price on shares of Mullen Group in a research report on Thursday, July 21st. Royal Bank Of Canada restated an “outperform” rating and set a C$19.00 target price on shares of Mullen Group in a research report on Friday, July 22nd. CIBC upped their target price on Mullen Group from C$17.00 to C$18.50 in a research report on Friday, July 22nd. Finally, AltaCorp Capital restated a “sector perform” rating on shares of Mullen Group in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of C$17.94.
Mullen Group (TSE:MTL) traded down 0.24% on Friday, hitting $16.53. The company’s stock had a trading volume of 67,113 shares. The stock has a market cap of $1.71 billion and a PE ratio of 34.37. Mullen Group has a 12 month low of $13.02 and a 12 month high of $19.37. The firm has a 50 day moving average of $16.13 and a 200-day moving average of $14.99.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/mullen-group-ltd-mtl-lowered-to-market-perform-at-raymond-james-financial-inc.html
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.
Receive News & Ratings for Mullen Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mullen Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.