Mullen Group (MTL) Price Target Raised to C$15.60 at Raymond James

Mullen Group (TSE:MTL) had its price objective boosted by investment analysts at Raymond James from C$14.85 to C$15.60 in a note issued to investors on Wednesday. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 3.17% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity boosted their price objective on Mullen Group from C$16.25 to C$17.50 in a research note on Friday, August 17th. CIBC boosted their price objective on Mullen Group from C$17.00 to C$18.00 in a research note on Friday, July 27th. Cormark raised Mullen Group from a “market perform” rating to a “buy” rating and boosted their price objective for the stock from C$15.00 to C$19.00 in a research note on Friday, July 27th. BMO Capital Markets boosted their price objective on Mullen Group from C$16.00 to C$18.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. Finally, National Bank Financial boosted their price objective on Mullen Group from C$17.00 to C$18.50 and gave the stock an “outperform” rating in a research note on Wednesday, October 3rd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$17.44.

TSE MTL traded down C$0.04 during trading hours on Wednesday, hitting C$15.12. 47,569 shares of the company were exchanged, compared to its average volume of 113,309. Mullen Group has a 52 week low of C$14.10 and a 52 week high of C$17.12.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Wednesday, July 25th. The company reported C$0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.10 by C$0.05. Mullen Group had a return on equity of 2.17% and a net margin of 1.81%. The company had revenue of C$295.70 million for the quarter, compared to analysts’ expectations of C$286.40 million.

In other Mullen Group news, Director David Edward Mullen sold 700,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of C$15.00, for a total transaction of C$10,500,000.00.

Mullen Group Company Profile

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment offers long haul and local transportation services to customers in various industries. The Oilfield Services segment provides specialized transportation, fluid hauling, waste disposal, warehousing, drilling, well-servicing, and dewatering services to the oil and natural gas industry in western Canada, which includes the exploration and development companies, as well as production and natural gas transmission companies.

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Analyst Recommendations for Mullen Group (TSE:MTL)

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