Royal Bank of Canada Cuts Mullen Group (TSE:MTL) Price Target to C$14.00

Mullen Group (TSE:MTL) had its price objective lowered by equities researchers at Royal Bank of Canada from C$16.00 to C$14.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 12.36% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 in a research note on Thursday, January 30th. TD Securities reduced their target price on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Raymond James dropped their price objective on shares of Mullen Group from C$18.50 to C$17.50 in a research report on Friday, February 14th. Finally, CIBC reduced their target price on shares of Mullen Group from C$18.00 to C$15.00 in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Mullen Group currently has an average rating of “Moderate Buy” and a consensus price target of C$17.78.

Mullen Group Stock Performance

TSE MTL opened at C$12.46 on Tuesday. The firm has a market capitalization of C$1.11 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69. The firm’s fifty day moving average price is C$12.82 and its two-hundred day moving average price is C$14.17. Mullen Group has a 1 year low of C$11.81 and a 1 year high of C$16.06.

Insider Buying and Selling at Mullen Group

In related news, Senior Officer Joanna Kathryn Scott purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of C$13.23 per share, for a total transaction of C$26,460.00. Insiders acquired 2,832 shares of company stock valued at $37,153 in the last quarter. Company insiders own 6.32% of the company’s stock.

Mullen Group Company Profile

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.