Mullen Group Ltd. (TSE:MTL) Stock Has Consensus Target Price of C$26.00 According to Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Five of eight analysts rate Mullen Group a buy, while three recommend holding the stock. The average 12-month price target is C$26.00, slightly below its C$26.76 opening price.
• Several brokerages recently raised their targets, including Desjardins to C$30, National Bank Financial to C$31 and BMO Capital Markets to C$32; CIBC maintained a neutral rating with a C$22 target.
• Insider Carson Paul Urlacher purchased 9,500 shares for approximately C$267,900, increasing his direct ownership by 11.8%. Mullen Group’s latest quarter included C$0.41 in earnings per share and C$609.3 million in revenue.

Shares of Mullen Group Ltd. (TSE:MTL - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$26.00.

Several research firms recently weighed in on MTL. Canadian Imperial Bank of Commerce lifted their price objective on Mullen Group from C$20.00 to C$22.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Desjardins increased their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the stock a "buy" rating in a report on Friday, July 24th. National Bank Financial raised their target price on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. BMO Capital Markets raised their target price on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Finally, Scotiabank boosted their price target on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday, July 24th.

Insider Activity

In other Mullen Group news, insider Carson Paul Urlacher acquired 9,500 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were bought at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This represents a 11.80% increase in their position. Corporate insiders own 6.32% of the company's stock.

Mullen Group Trading Up 0.7%

MTL opened at C$26.76 on Tuesday. The stock's fifty day moving average is C$26.25 and its two-hundred day moving average is C$22.44. The company has a market capitalization of C$2.58 billion, a P/E ratio of 24.11, a PEG ratio of 1.81 and a beta of 0.94. Mullen Group has a 52 week low of C$13.53 and a 52 week high of C$28.78. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59.

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