Acumen Capital Forecasts Strong Price Appreciation for Mullen Group (TSE:MTL) Stock

Mullen Group (TSE:MTL) had its price objective upped by research analysts at Acumen Capital from C$20.50 to C$22.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Acumen Capital’s target price would indicate a potential upside of 9.89% from the company’s current price.

A number of other equities research analysts have also commented on MTL. Scotiabank upped their price target on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a report on Friday. Royal Bank Of Canada upped their price target on shares of Mullen Group from C$17.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Canadian Imperial Bank of Commerce upped their price target on shares of Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. National Bank Financial upped their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday. Finally, Desjardins upped their price target on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$20.67.

Mullen Group Trading Up 3.0%

TSE:MTL traded up C$0.58 during midday trading on Friday, reaching C$20.02. 318,424 shares of the stock traded hands, compared to its average volume of 289,918. The company has a fifty day moving average of C$17.23 and a 200 day moving average of C$16.01. 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 stock has a market capitalization of C$1.92 billion, a P/E ratio of 20.02, a PEG ratio of 1.81 and a beta of 0.76.

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

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.