National Bank Financial Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective increased by analysts at National Bank Financial from C$23.00 to C$31.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 9.00% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank boosted their target price on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday. Raymond James Financial upped their price target on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Acumen Capital raised their price objective 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. Canadian Imperial Bank of Commerce upped their target price on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised their price target on shares of Mullen Group from C$23.00 to C$30.00 in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$26.00.

Mullen Group Stock Performance

Shares of MTL traded up C$1.64 during mid-day trading on Friday, hitting C$28.44. The stock had a trading volume of 349,788 shares, compared to its average volume of 283,143. Mullen Group has a 52 week low of C$12.98 and a 52 week high of C$28.78. The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The business has a fifty day moving average price of C$22.56 and a 200-day moving average price of C$19.32. The firm has a market cap of C$2.73 billion, a P/E ratio of 27.88, a PEG ratio of 1.81 and a beta of 1.13.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. The business had revenue of C$609.30 million for the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Insider Transactions at Mullen Group

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

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.