Desjardins Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective boosted by stock analysts at Desjardins from C$20.00 to C$23.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 14.89% from the stock’s current price.

A number of other equities research analysts have also issued reports on MTL. Scotiabank upped their target price on Mullen Group from C$18.50 to C$19.00 and gave the company a “sector perform” rating in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce upped their target price on Mullen Group from C$15.00 to C$17.00 in a research note on Thursday, January 8th. Royal Bank Of Canada upped their target price on Mullen Group from C$17.00 to C$19.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, National Bank Financial increased their price target on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$20.67.

Mullen Group Price Performance

Shares of MTL traded up C$0.58 on Friday, reaching C$20.02. The stock had a trading volume of 318,424 shares, compared to its average volume of 289,918. The firm has a market capitalization of C$1.92 billion, a PE ratio of 20.02, a PEG ratio of 1.81 and a beta of 0.76. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 111.51. The firm has a 50-day moving average of C$17.23 and a 200 day moving average of C$16.01. Mullen Group has a twelve month low of C$12.86 and a twelve month high of C$20.19.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. The business had revenue of C$547.70 million for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.