Mullen Group (TSE:MTL) Given New C$15.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has increased its price target for Mullen Group from C$14.00 to C$15.00, maintaining an "outperform" rating, indicating a potential upside of 4.82% from the stock's previous close.
• While Royal Bank has a positive outlook, other analysts have mixed ratings, with TD Securities raising their target from C$18.00 to C$19.00, while Scotiabank downgraded the stock from "strong-buy" to "hold."
• The consensus among analysts shows a rating of "Moderate Buy" for Mullen Group, with an average target price of C$17.35 based on multiple recent ratings.

Mullen Group (TSE:MTL - Get Free Report) had its price target hoisted by research analysts at Royal Bank Of Canada from C$14.00 to C$15.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 4.82% from the stock's previous close.

Several other analysts also recently issued reports on MTL. Acumen Capital cut their price target on Mullen Group from C$18.25 to C$17.25 and set a "buy" rating on the stock in a report on Friday, July 25th. TD Securities raised their price target on Mullen Group from C$18.00 to C$19.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Raymond James Financial set a C$16.75 price target on Mullen Group and gave the stock an "outperform" rating in a report on Friday, July 25th. Scotiabank downgraded Mullen Group from a "strong-buy" rating to a "hold" rating and cut their target price for the company from C$16.50 to C$16.00 in a research note on Thursday, July 10th. Finally, Cibc World Mkts downgraded Mullen Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$17.35.

Mullen Group Stock Performance

TSE:MTL traded up C$0.32 during trading hours on Wednesday, reaching C$14.31. 149,478 shares of the stock were exchanged, compared to its average volume of 224,310. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. The firm has a 50 day simple moving average of C$13.75 and a 200-day simple moving average of C$13.62. Mullen Group has a 52 week low of C$11.81 and a 52 week high of C$16.06. The stock has a market capitalization of C$1.25 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.81 and a beta of 0.69.

About Mullen Group

Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.

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