Mullen Group Ltd. (MTL) Stock Rating Lowered by Raymond James Financial Inc.
Mullen Group Ltd. (TSE:MTL) was downgraded by research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Friday, StockTargetPrices.com reports. They presently have a C$16.50 price target on the stock, up from their previous price target of C$16.25. Raymond James Financial Inc.’s price objective suggests a potential downside of 0.42% from the company’s previous close.
Several other brokerages have also issued reports on MTL. TD Securities reissued a “buy” rating and issued a C$18.00 price target on shares of Mullen Group in a research note on Thursday, July 21st. 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. CIBC boosted their price objective on Mullen Group from C$17.00 to C$18.50 in a report on Friday, July 22nd. AltaCorp Capital restated a “sector perform” rating on shares of Mullen Group in a report on Monday, August 15th. Finally, 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Mullen Group has a consensus rating of “Buy” and a consensus price target of C$17.56.
Mullen Group (TSE:MTL) traded up 0.06% during midday trading on Friday, hitting $16.58. The stock had a trading volume of 62,003 shares. The stock’s 50-day moving average is $16.13 and its 200-day moving average is $14.99. Mullen Group has a 1-year low of $13.02 and a 1-year high of $19.37. The stock has a market capitalization of $1.72 billion and a PE ratio of 34.47.
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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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