Mullen Group (TSE:MTL) Reaches New 1-Year High – Still a Buy?

Shares of Mullen Group Ltd. (TSE:MTL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$16.81 and last traded at C$16.81, with a volume of 45772 shares. The stock had previously closed at C$16.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTL. National Bankshares cut their target price on shares of Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Raymond James Financial downgraded Mullen Group from a “moderate buy” rating to a “hold” rating in a report on Monday, December 8th. Royal Bank Of Canada raised their price target on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Desjardins upped their target price on Mullen Group from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, CIBC boosted their price objective on shares of Mullen Group from C$15.00 to C$17.00 in a research report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$17.45.

Mullen Group Stock Performance

The stock’s fifty day simple moving average is C$15.41 and its two-hundred day simple moving average is C$14.43. The company has a market cap of C$1.46 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62.

Mullen Group (TSE:MTL) last issued its earnings results on Wednesday, October 22nd. The company reported C$0.36 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 12.39% and a net margin of 6.18%.The business had revenue of C$561.72 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.