Mullen Group (TSE:MTL) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Mullen Group from C$18.00 to C$20.00 while keeping a "neutral" rating, and several other brokers also lifted targets — leaving a consensus price target of C$20.67 and an average analyst rating of "Moderate Buy" (five Buys, three Holds).
• Shares traded up 3.0% to C$20.02, near the 12‑month high of C$20.19 and roughly in line with analyst targets; the company has a market cap of C$1.92B, a P/E of 20.02, and reported QEPS of C$0.20 on C$547.7M in revenue.

Mullen Group (TSE:MTL - Get Free Report) had its price target lifted by investment analysts at Canadian Imperial Bank of Commerce from C$18.00 to C$20.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's price objective suggests a potential downside of 0.10% from the company's current price.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada lifted their price target on Mullen Group from C$17.00 to C$19.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Scotiabank raised their price objective on Mullen Group from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Friday. Acumen Capital raised their price objective on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a research report on Friday. Desjardins raised their price objective on Mullen Group from C$20.00 to C$23.00 and gave the stock a "buy" rating in a research report on Friday. Finally, National Bank Financial raised their price objective on Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Friday. Five 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 presently has an average rating of "Moderate Buy" and a consensus price target of C$20.67.

Mullen Group Trading Up 3.0%

Shares of TSE MTL traded up C$0.58 during trading on Friday, hitting C$20.02. 318,424 shares of the company were exchanged, compared to its average volume of 289,918. Mullen Group has a 12-month low of C$12.86 and a 12-month high of C$20.19. 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 company has a fifty day moving average price of C$17.23 and a 200-day moving average price of C$16.01. The firm has a market capitalization of C$1.92 billion, a PE ratio of 20.02, a P/E/G ratio of 1.81 and a beta of 0.76.

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