Mullen Group (TSE:MTL) Sets New 1-Year High on Analyst Upgrade

Mullen Group Ltd. (TSE:MTL)’s share price reached a new 52-week high during mid-day trading on Wednesday after Desjardins raised their price target on the stock from C$30.00 to C$31.00. Desjardins currently has a buy rating on the stock. Mullen Group traded as high as C$28.78 and last traded at C$28.83, with a volume of 187,722 shares. The stock had previously closed at C$27.39.

MTL has been the topic of a number of other reports. Scotiabank lifted their target price on Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 15th. National Bank Financial boosted their price objective on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce raised their target price on 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. Royal Bank Of Canada increased their price objective on shares of Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Finally, BMO Capital Markets increased their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$26.44.

Insiders Place Their Bets

In related news, insider Carson Paul Urlacher acquired 9,500 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately C$2,538,000. The trade was a 11.80% increase in their position. Insiders own 6.32% of the company’s stock.

Mullen Group Trading Up 4.5%

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 business has a 50-day moving average of C$26.28 and a 200-day moving average of C$23.64. The firm has a market cap of C$2.75 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.81 and a beta of 0.83.

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

Mullen Group Company Profile

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.