Desjardins Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective boosted by analysts at Desjardins from C$30.00 to C$31.00 in a research note issued on Tuesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 13.06% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada raised their target price on Mullen Group from C$30.00 to C$32.00 in a research note on Wednesday, September 30th. Scotiabank upped 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. BMO Capital Markets upped their price target on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. National Bank Financial increased their price objective 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. Finally, Canadian Imperial Bank of Commerce increased their price objective on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.44.

Mullen Group Trading Up 0.2%

Shares of Mullen Group stock traded up C$0.05 on Tuesday, hitting C$27.42. The stock had a trading volume of 145,738 shares, compared to its average volume of 299,051. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59. Mullen Group has a one year low of C$13.53 and a one year high of C$28.78. The stock’s 50-day simple moving average is C$26.27 and its two-hundred day simple moving average is C$23.57. The stock has a market cap of C$2.64 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.81 and a beta of 0.83.

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

Insiders Place Their Bets

In other Mullen Group news, insider Carson Paul Urlacher bought 9,500 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was acquired at an average price of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the purchase, the insider owned 90,000 shares of the company’s stock, valued at approximately C$2,538,000. This trade represents a 11.80% increase in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

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.