Mullen Group (TSE:MTL) Stock Gets Price Target Boost from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target for Mullen Group from C$30 to C$32, implying approximately 17% upside from the stock’s cited price.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average target of C$26.22.
• Mullen Group reported quarterly EPS of C$0.41 on revenue of C$609.3 million, while insider Carson Paul Urlacher purchased 9,500 shares worth C$267,900.

Mullen Group (TSE:MTL - Get Free Report) had its price objective increased by equities research analysts at Royal Bank Of Canada from C$30.00 to C$32.00 in a report issued on Wednesday, BayStreet reports. Royal Bank Of Canada's target price would indicate a potential upside of 16.96% from the company's current price.

A number of other research analysts also recently weighed in on the stock. National Bank Financial upped their price objective on shares of Mullen Group from C$23.00 to C$31.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. BMO Capital Markets lifted their price target on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce upped 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. Scotiabank increased their price target on Mullen Group from C$24.00 to C$29.00 in a research report on Friday, July 24th. Finally, Desjardins raised their price objective on Mullen Group from C$23.00 to C$30.00 and gave the company a "buy" rating in a report 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. Based on data from MarketBeat, Mullen Group presently has an average rating of "Moderate Buy" and an average target price of C$26.22.

Mullen Group Stock Performance

TSE:MTL traded up C$0.13 during midday trading on Wednesday, hitting C$27.36. The company's stock had a trading volume of 134,245 shares, compared to its average volume of 300,222. Mullen Group has a fifty-two week low of C$13.53 and a fifty-two week high of C$28.78. 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 firm has a market cap of C$2.63 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.81 and a beta of 0.94. The firm's 50 day moving average is C$26.28 and its 200-day moving average is C$22.51.

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

Insider Transactions at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher acquired 9,500 shares of the business's stock in a transaction on Monday, July 27th. The stock was bought at an average price of C$28.20 per share, for a total transaction of C$267,900.00. Following the acquisition, the insider owned 90,000 shares in the company, valued at approximately C$2,538,000. The trade was a 11.80% increase in their ownership of the stock. Corporate insiders own 6.32% of the company's stock.

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.

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