Mullen Group (TSE:MTL) Price Target Raised to C$31.00

Mullen Group (TSE:MTL) had its price objective hoisted by Desjardins from C$30.00 to C$31.00 in a research note issued to investors on Tuesday morning,BayStreet reports. Desjardins currently has a buy rating on the stock.

MTL has been the subject of a number of other reports. Canadian Imperial Bank of Commerce boosted their target price on shares of 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. Scotiabank raised their price target on Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. National Bank Financial raised their price target on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. BMO Capital Markets lifted their price objective on Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price objective on Mullen Group from C$30.00 to C$32.00 in a research report on Wednesday, September 30th. Four 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, the company has an average rating of “Moderate Buy” and a consensus price target of C$27.25.

Mullen Group Stock Up 11.5%

MTL opened at C$32.28 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59. The firm has a 50 day moving average price of C$26.44 and a 200-day moving average price of C$23.83. Mullen Group has a twelve month low of C$13.92 and a twelve month high of C$32.47. The stock has a market capitalization of C$3.09 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 1.81 and a beta of 0.83.

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

Insider Buying and Selling

In other Mullen Group news, insider Carson Paul Urlacher purchased 9,500 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were acquired at an average cost of C$28.20 per share, for a total transaction 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. Corporate insiders own 6.32% of the company’s stock.

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.