Mullen Group (TSE:MTL) Given New C$30.00 Price Target at Desjardins

Key Points

• Desjardins raised its price target on Mullen Group to C$30.00 from C$23.00 and kept a buy rating, implying modest upside from the current share price.
• Several other analysts also lifted their targets, and the stock now carries a Moderate Buy consensus with a consensus target price of C$26.00.
• Mullen Group shares rose 6.1% to C$28.44, near their 52-week high, after the company recently reported quarterly EPS of C$0.41 on revenue of C$609.3 million.

Mullen Group (TSE:MTL - Get Free Report) had its price target raised by research analysts at Desjardins from C$23.00 to C$30.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target would suggest a potential upside of 5.49% from the company's current price.

A number of other research analysts have also recently commented on MTL. Canadian Imperial Bank of Commerce upped 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. National Bank Financial increased their price target on Mullen Group from C$23.00 to C$31.00 and gave the stock an "outperform" rating in a report on Friday. Scotiabank boosted their price objective on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday. Royal Bank Of Canada upped their target price on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday. Finally, Acumen Capital lifted their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a "buy" rating in a research report on Friday, April 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$26.00.

Mullen Group Trading Up 6.1%

TSE:MTL traded up C$1.64 during trading hours on Friday, hitting C$28.44. The company had a trading volume of 349,788 shares, compared to its average volume of 283,143. Mullen Group has a 1 year low of C$12.98 and a 1 year high of C$28.78. The company has a market cap of C$2.73 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a 50-day moving average of C$22.56 and a 200 day moving average of C$19.32. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$609.30 million during the quarter.

Insider Buying and Selling at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value 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 ownership of the stock. Corporate insiders own 6.32% of the company's stock.

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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