Mullen Group Ltd. (TSE:MTL) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Five of eight brokerages rate Mullen Group a buy, while three recommend holding the stock. The average 12-month price target is C$26.00.
• Shares have shown strong performance: Mullen Group opened at C$26.55, compared with a 50-day moving average of C$23.85 and a 52-week range of C$13.32 to C$28.78. Several analysts recently raised their price targets, including BMO Capital Markets to C$32.00.
• Latest quarterly results and insider activity: The company reported quarterly earnings of C$0.41 per share on revenue of C$609.30 million. An insider purchased 9,500 shares for C$267,900, while a director separately sold 3,500 shares.

Mullen Group Ltd. (TSE:MTL - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$26.00.

A number of analysts have recently commented on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. BMO Capital Markets raised their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Desjardins lifted their price objective on Mullen Group from C$23.00 to C$30.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their price objective on Mullen Group from C$23.00 to C$30.00 in a report on Friday, July 24th. Finally, Raymond James Financial boosted their price objective on Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th.

Mullen Group Price Performance

Mullen Group stock opened at C$26.55 on Monday. The company's fifty day moving average price is C$23.85 and its 200 day moving average price is C$20.18. Mullen Group has a 1 year low of C$13.32 and a 1 year high of C$28.78. The stock has a market capitalization of C$2.56 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17.

Mullen Group (TSE:MTL - Get Free Report) last posted its quarterly earnings data 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 during the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%.

Insider Activity at Mullen Group

In other news, insider Carson Paul Urlacher acquired 9,500 shares of the firm's stock in a transaction on Monday, July 27th. The shares were 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 of the company's stock, valued at approximately C$2,538,000. This trade represents a 11.80% increase in their position. Also, 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 transaction of C$75,250.00. Following the sale, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents a 31.64% decrease in their position. 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.

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