Mullen Group (TSE:MTL) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MTL shares. Desjardins boosted their price target on Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. TD Securities boosted their target price on Mullen Group from C$19.00 to C$20.00 and gave the stock a “buy” rating 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. National Bankshares boosted their price objective on shares of Mullen Group from C$16.50 to C$19.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, CIBC upped their price objective on shares of Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$17.70.

Mullen Group Stock Performance

The firm has a market cap of C$1.44 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.81 and a beta of 0.66. The firm’s 50 day moving average price is C$15.51 and its 200-day moving average price is C$14.47. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06.

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

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.