Mullen Group (TSE:MTL) Stock Jumps 7.1% - Still a Buy?

Key Points

• Mullen Group shares jumped 7.1% to C$31.00, with trading volume rising 15% above its average.
• Analyst sentiment is a Moderate Buy, with five Buy ratings and three Holds; however, the consensus price target of C$26.44 is below the current share price.
• The company reported quarterly EPS of C$0.52 on C$653.17 million in revenue, while insider Carson Paul Urlacher purchased 9,500 shares, increasing his holdings by 11.8%.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price rose 7.1% on Thursday. The stock traded as high as C$31.83 and last traded at C$31.00. Approximately 345,647 shares changed hands during trading, an increase of 15% from the average daily volume of 300,468 shares. The stock had previously closed at C$28.95.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTL. Desjardins raised their price objective on shares of Mullen Group from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research note on Tuesday. Scotiabank increased their target price on Mullen Group from C$29.00 to C$30.00 and gave the company a "sector perform" rating in a report on Thursday, October 15th. Canadian Imperial Bank of Commerce raised their price target on Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Royal Bank Of Canada boosted their price target on Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Finally, National Bank Financial upped their price objective on Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$26.44.

Mullen Group Price Performance

The company has a 50 day moving average of C$26.33 and a 200 day moving average of C$23.72. The stock has a market capitalization of C$3.09 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59.

Mullen Group (TSE:MTL - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported C$0.52 earnings per share (EPS) for the quarter. The firm had revenue of C$653.17 million for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.

Insider Buying and Selling at Mullen Group

In related news, insider Carson Paul Urlacher bought 9,500 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the transaction, the insider owned 90,000 shares of the company's stock, valued at approximately C$2,538,000. The trade was a 11.80% increase in their ownership of the stock. 6.32% of the stock is currently owned by insiders.

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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