Raymond James Financial Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Key Points

• Analyst Raymond James raised its price target on Mullen Group from C$17.00 to C$18.00 while keeping a market perform rating, a target that still implies roughly a 10.09% downside from the stock's current price.
• Several other firms lifted targets (Desjardins to C$23, Acumen to C$22, RBC to C$19, Scotiabank to C$21, CIBC to C$20), leaving a consensus target of C$20.67 and an average rating of Moderate Buy (five Buys, three Holds).
• Mullen traded at C$20.02 (near its 12‑month high of C$20.19) after reporting quarterly EPS of C$0.20 and revenue of C$547.7M, with a P/E of 20.02 and a notably high debt‑to‑equity ratio of 111.51.

Mullen Group (TSE:MTL - Get Free Report) had its price objective raised by equities research analysts at Raymond James Financial from C$17.00 to C$18.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's target price indicates a potential downside of 10.09% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Desjardins lifted their target price on Mullen Group from C$20.00 to C$23.00 and gave the stock a "buy" rating in a report on Friday. Acumen Capital lifted their target price on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a report on Friday. Canadian Imperial Bank of Commerce lifted their target price on Mullen Group from C$18.00 to C$20.00 and gave the stock a "neutral" rating in a report on Friday. Royal Bank Of Canada lifted their target price 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. Finally, Scotiabank lifted their target price on Mullen Group from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a report on Friday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Mullen Group currently has an average rating of "Moderate Buy" and a consensus target price of C$20.67.

Mullen Group Price Performance

Shares of MTL stock traded up C$0.58 during mid-day trading on Friday, hitting C$20.02. 318,424 shares of the stock traded hands, compared to its average volume of 289,918. Mullen Group has a twelve month low of C$12.86 and a twelve month high of C$20.19. The firm has a market cap of C$1.92 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. The company's 50-day simple moving average is C$17.23 and its 200-day simple moving average is C$16.01. The company has a debt-to-equity ratio of 111.51, a quick ratio of 1.06 and a current ratio of 2.17.

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

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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