Mullen Group Ltd. (TSE:MTL – Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$22.97 and traded as high as C$27.16. Mullen Group shares last traded at C$26.72, with a volume of 324,532 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on MTL. National Bank Financial boosted 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. Desjardins raised their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price objective on shares of Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Scotiabank boosted their price target on Mullen Group from C$24.00 to C$29.00 in a report on Friday, July 24th. Finally, BMO Capital Markets boosted their target price on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Five 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.com, Mullen Group has a consensus rating of “Moderate Buy” and a consensus price target of C$26.22.
Get Our Latest Research Report on MTL
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The firm had revenue of C$609.30 million for the quarter.
Insider Activity
In other Mullen Group news, insider Carson Paul Urlacher purchased 9,500 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the acquisition, the insider owned 90,000 shares of the company’s stock, valued at C$2,538,000. The trade was a 11.80% increase in their position. 6.32% of the stock is currently owned by 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.
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