Mullen Group (TSE:MTL) Price Target Raised to C$30.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Mullen Group to C$30.00 from C$23.00, implying modest upside from the prior close.
• Other analysts have also turned more constructive, with several firms lifting targets; the stock now carries an average Moderate Buy rating and a consensus price target of C$26.00.
• Mullen Group shares recently traded near their 52-week high, and the company reported quarterly EPS of C$0.41 on revenue of C$609.3 million.

Mullen Group (TSE:MTL - Get Free Report) had its price objective raised by research analysts at Royal Bank Of Canada from C$23.00 to C$30.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank Of Canada's target price would indicate a potential upside of 5.49% from the stock's previous close.

Several other research analysts also recently weighed in on MTL. Canadian Imperial Bank of Commerce upped their target price on 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. National Bank Financial boosted their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Raymond James Financial upped their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Desjardins increased their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, Scotiabank lifted their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$26.00.

Mullen Group Price Performance

Shares of Mullen Group stock traded up C$1.64 on Friday, hitting C$28.44. The company's stock had a trading volume of 349,788 shares, compared to its average volume of 283,143. The company has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. Mullen Group has a 1 year low of C$12.98 and a 1 year high of C$28.78. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. The firm has a fifty day moving average price of C$22.56 and a 200-day moving average price of C$19.32.

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

Insider Transactions at Mullen Group

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the sale, the director owned 7,562 shares of the company's stock, valued at C$162,583. The trade was a 31.64% decrease in their position. 6.32% of the stock is currently owned by company insiders.

Mullen Group Company Profile

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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