National Bankshares Issues Pessimistic Forecast for Mullen Group (TSE:MTL) Stock Price

Key Points

• National Bankshares has lowered its target price for Mullen Group from C$17.00 to C$16.50, maintaining an "outperform" rating despite the decrease.
• Analysts from other firms have varying views, with TD Securities increasing their target to C$19.00, while Acumen Capital set theirs at C$17.25 and Cibc World Mkts downgraded the stock to "hold."
• Mullen Group's current stock price is C$14.26, with a 12-month high of C$16.06 and a low of C$11.81, reflecting significant price fluctuations over the year.

Mullen Group (TSE:MTL - Get Free Report) had its target price decreased by equities researchers at National Bankshares from C$17.00 to C$16.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' price objective suggests a potential upside of 15.71% from the company's current price.

A number of other research analysts also recently weighed in on MTL. TD Securities upped their price objective on shares of Mullen Group from C$18.00 to C$19.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Acumen Capital decreased their price objective on shares of Mullen Group from C$18.25 to C$17.25 and set a "buy" rating for the company in a research report on Friday, July 25th. Cibc World Mkts downgraded shares of Mullen Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 7th. Royal Bank Of Canada upped their price target on shares of Mullen Group from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 8th. Finally, Raymond James Financial set a C$16.75 price target on shares of Mullen Group and gave the stock an "outperform" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$17.50.

Mullen Group Price Performance

Shares of Mullen Group stock traded up C$0.04 during trading hours on Thursday, reaching C$14.26. The stock had a trading volume of 328,690 shares, compared to its average volume of 224,734. The stock's 50 day moving average is C$13.93 and its 200 day moving average is C$13.73. The firm has a market capitalization of C$1.24 billion, a PE ratio of 12.85, a PEG ratio of 1.81 and a beta of 0.69. Mullen Group has a twelve month low of C$11.81 and a twelve month high of C$16.06. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69.

About Mullen Group

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.

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