Mullen Group Ltd. (TSE:MTL – Get Free Report) shot up 7.1% during mid-day trading on Thursday. The stock traded as high as C$31.83 and last traded at C$31.00. 345,647 shares changed hands during trading, an increase of 15% from the average daily volume of 300,468 shares. The stock had previously closed at C$28.95.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on MTL. Desjardins upped their price objective on Mullen Group from C$30.00 to C$31.00 and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets lifted their target price on Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. 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 research report on Friday, July 24th. Scotiabank upped their price target on Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada raised their price objective on Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Mullen Group presently has a consensus rating of “Moderate Buy” and an average price target of C$26.44.
View Our Latest Analysis on MTL
Mullen Group Stock Up 11.5%
The firm’s 50-day moving average price is C$26.33 and its 200-day moving average price is C$23.72. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The company has a market cap of C$3.09 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83.
Mullen Group (TSE:MTL – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported C$0.52 earnings per share for the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%. The business had revenue of C$653.17 million for the quarter.
Insider Buying and Selling
In related news, insider Carson Paul Urlacher acquired 9,500 shares of Mullen Group stock in a transaction on Monday, July 27th. The shares were bought at an average price of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the purchase, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This trade represents a 11.80% increase in their position. 6.32% of the stock is owned by company 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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