Royal Bank Of Canada Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its target price raised by analysts at Royal Bank Of Canada from C$19.00 to C$21.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 4.90% from the stock’s current price.

MTL has been the subject of a number of other reports. Scotiabank increased their price target on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Friday. Desjardins raised their target price on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday. National Bank Financial raised their target price on Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday. Acumen Capital raised their target price on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research note on Friday. Finally, Raymond James Financial raised their target price on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$20.67.

Mullen Group Trading Up 3.0%

Mullen Group stock traded up C$0.58 during trading hours on Friday, reaching C$20.02. 318,424 shares of the company’s stock were exchanged, compared to its average volume of 289,918. 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’s 50 day simple moving average is C$17.23 and its 200 day simple moving average is C$16.01. Mullen Group has a twelve month low of C$12.86 and a twelve month high of C$20.19. 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.

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

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.