Mullen Group (TSE:MTL) Price Target Raised to C$32.00

Mullen Group (TSE:MTL) had its price objective increased by research analysts at BMO Capital Markets from C$25.00 to C$32.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 12.52% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Scotiabank boosted their target price on Mullen Group from C$24.00 to C$29.00 in a research note on Friday. Canadian Imperial Bank of Commerce raised their price target on shares of Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Raymond James Financial upped their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. National Bank Financial increased their price objective on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Desjardins raised their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Performance

TSE MTL traded up C$1.64 during trading on Friday, reaching C$28.44. The company’s stock had a trading volume of 349,788 shares, compared to its average volume of 283,143. The firm has a 50 day moving average price of C$22.56 and a 200 day moving average price of C$19.32. Mullen Group has a 12 month low of C$12.98 and a 12 month high of C$28.78. The firm has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL) last released its earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.The company had revenue of C$609.30 million for the quarter.

Insiders Place Their Bets

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the transaction, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. This represents a 31.64% decrease in their position. 6.32% of the stock is owned by insiders.

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.