Royal Bank Of Canada Forecasts Strong Price Appreciation for Mullen Group (TSE:MTL) Stock

Mullen Group (TSE:MTL) had its target price raised by equities researchers at Royal Bank Of Canada from C$30.00 to C$32.00 in a report released on Wednesday, BayStreet reports. Royal Bank Of Canada’s target price indicates a potential upside of 16.96% from the company’s previous close.

Other analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Scotiabank raised their target price on Mullen Group from C$24.00 to C$29.00 in a research note on Friday, July 24th. Desjardins lifted their target price on Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce upped their price target on Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Finally, National Bank Financial increased their price target on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Mullen Group has an average rating of “Moderate Buy” and an average price target of C$26.22.

Mullen Group Trading Up 0.5%

Shares of MTL traded up C$0.13 during mid-day trading on Wednesday, reaching C$27.36. The stock had a trading volume of 134,245 shares, compared to its average volume of 300,222. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. Mullen Group has a 52-week low of C$13.53 and a 52-week high of C$28.78. The business’s fifty day moving average is C$26.28 and its 200 day moving average is C$22.51. The firm has a market cap of C$2.63 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.81 and a beta of 0.94.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. The company had revenue of C$609.30 million for the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%.

Insider Transactions at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher bought 9,500 shares of Mullen Group stock in a transaction on Monday, July 27th. The shares were bought at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the acquisition, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This represents a 11.80% increase in their ownership of the stock. 6.32% of the stock is currently owned by company 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.