Mullen Group (TSE:MTL) Price Target Raised to C$21.00

Key Points

• Several analysts have lifted their price targets for Mullen Group, raising the average target to C$20.67 and leaving an overall consensus of Moderate Buy (five Buy, three Hold).
• Scotiabank raised its target to C$21.00 from C$19.00 and maintained a sector perform rating, implying roughly a 4.9% upside from the prior close.
• Shares traded up to C$20.02 (near the 12‑month high of C$20.19) after the updates; the company reported Q1 EPS C$0.20 on C$547.7M revenue, with a P/E of ~20 and debt‑to‑equity of 111.5.

Mullen Group (TSE:MTL - Get Free Report) had its target price lifted by analysts at Scotiabank from C$19.00 to C$21.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 4.90% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Desjardins upped their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a "buy" rating in a research note on Friday. National Bank Financial increased their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an "outperform" rating in a research note on Friday. Royal Bank Of Canada increased their price target on shares of Mullen Group from C$17.00 to C$19.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Mullen Group from C$15.00 to C$17.00 in a research note on Thursday, January 8th. 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 stock presently has an average rating of "Moderate Buy" and an average price target of C$20.67.

Mullen Group Price Performance

Mullen Group stock traded up C$0.58 during trading hours on Friday, hitting C$20.02. 318,424 shares of the stock were exchanged, compared to its average volume of 289,918. The company has a debt-to-equity ratio of 111.51, a quick ratio of 1.06 and a current ratio of 2.17. The stock has a market capitalization of C$1.92 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.81 and a beta of 0.76. Mullen Group has a 12 month low of C$12.86 and a 12 month high of C$20.19. The business's 50-day moving average is C$17.23 and its two-hundred day moving average is C$16.01.

Mullen Group (TSE:MTL - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. The firm had revenue of C$547.70 million for the quarter. Mullen Group had a net margin of 4.27% and a return on equity of 8.68%.

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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