Mullen Group (TSE:MTL) Given New C$22.00 Price Target at Canadian Imperial Bank of Commerce

Mullen Group (TSE:MTL) had its target price boosted by stock analysts at Canadian Imperial Bank of Commerce from C$20.00 to C$22.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 1.43% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. National Bank Financial boosted their target price on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Acumen Capital increased their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Desjardins raised their target price on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Raymond James Financial boosted their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Scotiabank upped their price target on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$20.89.

Mullen Group Stock Performance

TSE:MTL traded up C$0.23 during mid-day trading on Tuesday, reaching C$21.69. 106,874 shares of the stock were exchanged, compared to its average volume of 277,804. The company has a 50 day simple moving average of C$21.33 and a 200-day simple moving average of C$18.35. Mullen Group has a 1 year low of C$12.98 and a 1 year high of C$23.46. The stock has a market capitalization of C$2.08 billion, a P/E ratio of 21.26, a P/E/G ratio of 1.81 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. The company had revenue of C$547.70 million for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Insider Buying and Selling

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the transaction, the director owned 7,562 shares of the company’s stock, valued at C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently owned by corporate insiders.

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.