Mullen Group (TSE:MTL) Price Target Raised to C$30.00

Mullen Group (TSE:MTL) had its price target hoisted by analysts at Desjardins from C$23.00 to C$30.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 5.49% from the company’s current price.

A number of other research firms also recently commented on MTL. Acumen Capital increased their target price on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Royal Bank Of Canada lifted their target price on Mullen Group from C$23.00 to C$30.00 in a research report on Friday. Scotiabank upped their target price on Mullen Group from C$24.00 to C$29.00 in a research report on Friday. Canadian Imperial Bank of Commerce lifted their price target on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Finally, Raymond James Financial raised their target price 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. Five 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Up 6.1%

TSE MTL traded up C$1.64 during trading on Friday, reaching C$28.44. 349,788 shares of the company’s stock were exchanged, compared to its average volume of 283,143. Mullen Group has a 1 year low of C$12.98 and a 1 year high of C$28.78. The stock has a market cap of C$2.73 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. The company has a 50 day moving average price of C$22.56 and a two-hundred day moving average price of C$19.32.

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

Insider Buying and Selling at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the transaction, the director directly owned 7,562 shares in the company, valued at C$162,583. The trade was a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently 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.