Shares of Mullen Group Ltd. (TSE:MTL – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Desjardins raised their price target on the stock from C$30.00 to C$31.00. Desjardins currently has a buy rating on the stock. Mullen Group traded as high as C$28.78 and last traded at C$28.83, with a volume of 187,722 shares trading hands. The stock had previously closed at C$27.39.
Other equities analysts have also issued reports about the stock. Royal Bank Of Canada raised their target price on shares of Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Scotiabank increased their price objective on shares of Mullen Group from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. Canadian Imperial Bank of Commerce boosted 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 research note on Tuesday, June 30th. National Bank Financial raised their price objective 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. Finally, BMO Capital Markets increased their target price on Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$26.44.
Get Our Latest Stock Report on Mullen Group
Insider Transactions at Mullen Group
In other news, insider Carson Paul Urlacher bought 9,500 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were bought at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately C$2,538,000. This trade represents a 11.80% increase in their ownership of the stock. Insiders own 6.32% of the company’s stock.
Mullen Group Price Performance
The stock has a market cap of C$2.75 billion, a PE ratio of 25.77, a P/E/G ratio of 1.81 and a beta of 0.83. The business has a 50 day moving average price of C$26.28 and a two-hundred day moving average price of C$23.64. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17.
Mullen Group (TSE:MTL – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%. The company had revenue of C$609.30 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.
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