Acumen Capital Forecasts Strong Price Appreciation for Mullen Group (TSE:MTL) Stock

Key Points

• Acumen Capital raised its price target on Mullen Group (TSE:MTL) from C$20.50 to C$22.00 and maintained a "buy" rating, implying roughly a 9.89% upside from the current price.
• Multiple analysts have also bumped targets, leaving Mullen with a consensus Moderate Buy rating and a consensus price target of C$20.67 (five Buys, three Holds).
• MTL traded at C$20.02, has a market cap of C$1.92B and a PE of 20.02, and recently posted quarterly EPS of C$0.20 on C$547.7M revenue while sitting near its 12‑month high of C$20.19.

Mullen Group (TSE:MTL - Get Free Report) had its price target upped by equities research analysts at Acumen Capital from C$20.50 to C$22.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Acumen Capital's price target would indicate a potential upside of 9.89% from the company's current price.

A number of other equities analysts have also recently commented on MTL. Canadian Imperial Bank of Commerce boosted their price target on shares of Mullen Group from C$15.00 to C$17.00 in a research note on Thursday, January 8th. National Bank Financial boosted their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a research note on Friday. Desjardins boosted their price target on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a "buy" rating in a research note on Friday. Scotiabank boosted their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their price target on shares of Mullen Group from C$17.00 to C$19.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Five investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$20.67.

Mullen Group Price Performance

TSE:MTL traded up C$0.58 during mid-day trading on Friday, hitting C$20.02. 318,424 shares of the stock traded hands, compared to its average volume of 289,918. The business's 50-day moving average price is C$17.23 and its 200 day moving average price is C$16.01. The company has a market cap of C$1.92 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. Mullen Group has a 12-month low of C$12.86 and a 12-month high of C$20.19. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 111.51.

Mullen Group (TSE:MTL - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. Mullen Group had a net margin of 4.27% and a return on equity of 8.68%. The business 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.

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