Mullen Group (TSE:MTL) Given New C$30.00 Price Target at Royal Bank Of Canada

by · The Markets Daily

Mullen Group (TSE:MTL – Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from C$23.00 to C$30.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price objective points to a potential upside of 5.49% from the stock’s current price.

MTL has been the subject of several other reports. Desjardins upped their target price on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, April 24th. 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 report on Tuesday, June 30th. Raymond James Financial boosted their price target on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Acumen Capital upped their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Scotiabank raised their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Five equities research 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, Mullen Group currently has an average rating of “Moderate Buy” and a consensus target price of C$26.00.

View Our Latest Report on Mullen Group

Mullen Group Price Performance

Shares of Mullen Group stock traded up C$1.64 on Friday, hitting C$28.44. 349,788 shares of the company were exchanged, compared to its average volume of 283,143. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65. The company has a 50-day moving average price of C$22.56 and a 200 day moving average price of C$19.32. The stock 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. Mullen Group has a 1-year low of C$12.98 and a 1-year high of C$28.78.

Mullen Group (TSE:MTL – Get Free Report) 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 8.72% and a net margin of 4.32%.The firm had revenue of C$609.30 million during the quarter.

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the sale, the director directly owned 7,562 shares of the company’s stock, valued at approximately 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 corporate insiders.

Mullen Group Company Profile

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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.

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