Royal Bank Of Canada Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Key Points

• Royal Bank of Canada raised its target on Mullen Group from C$19 to C$21 and kept an "outperform" rating, joining other analysts who lifted targets (e.g., National Bank and Desjardins to C$23), leaving a MarketBeat consensus target of C$20.67 and an average "Moderate Buy" rating.
• Mullen shares traded around C$20.02 (near a 12‑month high) after the upgrades; the company has a C$1.92B market cap, recent quarterly EPS of C$0.20 on C$547.7M revenue, a net margin of 4.27%, and a high debt‑to‑equity ratio of 111.51.

Mullen Group (TSE:MTL - Get Free Report) had its target price increased by equities researchers at Royal Bank Of Canada from C$19.00 to C$21.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 4.90% from the stock's current price.

A number of other research analysts have also recently commented on the company. Canadian Imperial Bank of Commerce raised their target price on Mullen Group from C$18.00 to C$20.00 and gave the stock a "neutral" rating in a research report on Friday. National Bank Financial raised their target price on Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Friday. Scotiabank raised their target price 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. Raymond James Financial raised their target price on Mullen Group from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research report on Friday. Finally, Desjardins raised their target price on Mullen Group from C$20.00 to C$23.00 and gave the stock a "buy" rating in a research report on Friday. Five equities 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$20.67.

Mullen Group Price Performance

Shares of MTL traded up C$0.58 during trading hours on Friday, reaching C$20.02. The stock had a trading volume of 318,424 shares, 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 stock has a market capitalization of C$1.92 billion, a PE ratio of 20.02, a PEG ratio of 1.81 and a beta of 0.76. 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's 50-day moving average is C$17.23 and its two-hundred day moving average is C$16.01.

Mullen Group (TSE:MTL - Get Free Report) last announced 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 company had revenue of C$547.70 million during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.