Analysts Set Mullen Group Ltd. (TSE:MTL) Price Target at C$26.00

Shares of Mullen Group Ltd. (TSE:MTL) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$26.00.

Several equities analysts have recently weighed in on the company. National Bank Financial raised their price target on Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Scotiabank raised their price objective on shares of Mullen Group from C$24.00 to C$29.00 in a research note on Friday, July 24th. Royal Bank Of Canada lifted their target price on shares of Mullen Group from C$23.00 to C$30.00 in a report on Friday, July 24th. BMO Capital Markets upped their target price on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Finally, Desjardins raised their price target on shares of 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.

Mullen Group Price Performance

MTL stock opened at C$25.79 on Friday. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17. The firm has a 50 day moving average price of C$25.32 and a 200-day moving average price of C$21.45. Mullen Group has a 52-week low of C$13.53 and a 52-week high of C$28.78. The firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.81 and a beta of 0.94.

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

Insider Activity at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher purchased 9,500 shares of the stock in a transaction dated Monday, July 27th. The shares were purchased at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This trade represents a 11.80% increase in their position. 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.