TD Securities Reaffirms “Hold” Rating for Mullen Group Ltd (MTL)
Mullen Group Ltd (TSE:MTL)‘s stock had its “hold” rating reissued by TD Securities in a research note issued on Tuesday. They currently have a C$18.00 target price on the stock. TD Securities’ price objective points to a potential upside of 6.32% from the stock’s previous close.
A number of other analysts also recently commented on MTL. National Bank Financial upgraded shares of Mullen Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$18.00 to C$18.75 in a report on Tuesday, July 25th. Raymond James Financial, Inc. raised their price target on shares of Mullen Group from C$15.25 to C$15.75 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Scotiabank downgraded shares of Mullen Group from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$18.00 to C$17.50 in a report on Thursday, October 12th. Canaccord Genuity cut their price target on shares of Mullen Group from C$19.00 to C$18.00 in a report on Friday. Finally, CIBC cut their price target on shares of Mullen Group from C$20.50 to C$19.00 in a report on Thursday, July 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$17.81.
Shares of Mullen Group (MTL) traded up 0.71% during midday trading on Tuesday, hitting $16.93. The stock had a trading volume of 94,822 shares. Mullen Group has a 52-week low of $14.49 and a 52-week high of $20.32. The firm has a 50 day moving average price of $16.80 and a 200-day moving average price of $15.77. The stock has a market cap of $1.75 billion and a PE ratio of 34.55.
About Mullen Group
Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.
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