Mullen Group Ltd. (TSE:MTL) Receives C$26.00 Average PT from Brokerages

Shares of Mullen Group Ltd. (TSE:MTL) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$26.00.

Several analysts have issued reports on the company. National Bank Financial upped their target price on Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Desjardins lifted their price target on Mullen Group from C$23.00 to C$30.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Raymond James Financial lifted their price target on Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. BMO Capital Markets boosted their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Finally, Scotiabank upped their price objective on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday, July 24th.

Mullen Group Trading Down 1.2%

Shares of Mullen Group stock opened at C$26.56 on Monday. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The stock’s 50 day simple moving average is C$24.28 and its 200-day simple moving average is C$20.50. The stock has a market cap of C$2.56 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.81 and a beta of 1.15. Mullen Group has a 1-year low of C$13.53 and a 1-year high of C$28.78.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The firm had revenue of C$609.30 million during the quarter.

Insider Buying and Selling

In other news, insider Carson Paul Urlacher bought 9,500 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were bought at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the acquisition, the insider directly owned 90,000 shares of the company’s stock, valued at C$2,538,000. This trade represents a 11.80% increase in their position. 6.32% of the stock is owned by company 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.