Mullen Group (TSE:MTL) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised Mullen Group’s target price from C$23.00 to C$31.00 and maintained an outperform rating, implying about 9% upside from the prior close.
• Other analysts were also more bullish: Scotiabank increased its target to C$29.00, and the broader analyst consensus is now a Moderate Buy with an average target price of C$26.00.
• The stock was trading up 6.1% to C$28.44, near its 12-month high, after 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 target price hoisted by National Bank Financial from C$23.00 to C$31.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price suggests a potential upside of 9.00% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Scotiabank upped their price objective on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday. Canadian Imperial Bank of Commerce boosted their price objective on Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Raymond James Financial increased their price objective on Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Acumen Capital raised their target price on Mullen Group from C$20.50 to C$22.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, Desjardins lifted their target price on Mullen Group from C$20.00 to C$23.00 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 given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$26.00.

Mullen Group Trading Up 6.1%

Mullen Group stock traded up C$1.64 during mid-day trading on Friday, hitting C$28.44. 349,788 shares of the stock were exchanged, compared to its average volume of 283,143. Mullen Group has a 12 month low of C$12.98 and a 12 month high of C$28.78. The firm's fifty day simple moving average is C$22.56 and its two-hundred day simple moving average is C$19.32. The stock has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.81 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65.

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

Insider Buying and Selling at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 7,562 shares in the company, valued at C$162,583. The trade was a 31.64% decrease in their position. 6.32% of the stock is owned by 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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