BMO Capital Markets Raises Mullen Group (TSE:MTL) Price Target to C$20.00

Mullen Group (TSE:MTL) had its price target raised by equities researchers at BMO Capital Markets from C$17.00 to C$20.00 in a research note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 29.20% from the company’s current price.

A number of other brokerages also recently issued reports on MTL. TD Securities reduced their price target on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Raymond James boosted their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday. Royal Bank of Canada boosted their price target on Mullen Group from C$16.00 to C$17.00 in a report on Friday, July 26th. Cormark upped their price objective on Mullen Group from C$18.75 to C$19.50 in a research report on Friday, July 26th. Finally, CIBC lifted their target price on Mullen Group from C$16.50 to C$17.50 in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and an average target price of C$18.86.

Mullen Group Stock Performance

MTL stock traded down C$0.03 during trading hours on Friday, hitting C$15.48. 295,437 shares of the stock were exchanged, compared to its average volume of 194,143. The company has a 50-day simple moving average of C$14.31 and a two-hundred day simple moving average of C$13.78. The firm has a market capitalization of C$1.36 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.81 and a beta of 1.82. Mullen Group has a 12 month low of C$12.47 and a 12 month high of C$15.72. The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, July 25th. The company reported C$0.37 earnings per share for the quarter, topping the consensus estimate of C$0.30 by C$0.07. Mullen Group had a net margin of 6.30% and a return on equity of 12.74%. The business had revenue of C$495.60 million during the quarter, compared to analysts’ expectations of C$490.50 million.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.