Mullen Group (TSE:MTL) Price Target Raised to C$19.00 at Scotiabank

Key Points

• Scotiabank raised its price target on Mullen Group to C$19.00 (from C$18.50) while keeping a "sector perform" rating, implying about a 5.20% upside from the prior close.
• Other brokers also boosted targets — Desjardins and National Bank to C$19.00 and CIBC to C$17.00 — leaving a consensus rating of "Moderate Buy" with an average price target of C$18.00 (five Buys, three Holds).
• The stock trades at C$18.06 (near its 12‑month high of C$18.18) after reporting C$0.15 EPS on C$533.9M revenue; Mullen Group has a market cap of C$1.73B and a P/E of 18.06.

Mullen Group (TSE:MTL - Get Free Report) had its price objective raised by stock analysts at Scotiabank from C$18.50 to C$19.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price points to a potential upside of 5.20% from the stock's previous close.

A number of other equities research analysts also recently issued reports on MTL. Desjardins increased their price objective on Mullen Group from C$18.00 to C$19.00 and gave the stock a "buy" rating in a research report on Friday, December 12th. Canadian Imperial Bank of Commerce increased their price objective on Mullen Group from C$15.00 to C$17.00 in a research report on Thursday, January 8th. Finally, National Bank Financial raised their price target on Mullen Group from C$16.50 to C$19.00 and gave the company an "outperform" rating in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$18.00.

Mullen Group Price Performance

Shares of MTL stock traded up C$0.12 on Thursday, reaching C$18.06. The company's stock had a trading volume of 77,614 shares, compared to its average volume of 297,058. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 111.51. Mullen Group has a 12-month low of C$11.89 and a 12-month high of C$18.18. The company has a market capitalization of C$1.73 billion, a P/E ratio of 18.06, a PEG ratio of 1.81 and a beta of 0.76. The stock's 50 day simple moving average is C$16.94 and its 200-day simple moving average is C$15.70.

Mullen Group (TSE:MTL - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.15 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The company had revenue of C$533.88 million for 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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