Mullen Group (TSE:MTL) Hits New 52-Week High – Should You Buy?

Mullen Group Ltd. (TSE:MTL)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$16.33 and last traded at C$16.30, with a volume of 130358 shares trading hands. The stock had previously closed at C$16.13.

Wall Street Analysts Forecast Growth

MTL has been the subject of several analyst reports. Desjardins increased their price target on shares of Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a 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 research report on Thursday, October 23rd. Raymond James Financial downgraded Mullen Group from a “moderate buy” rating to a “hold” rating in a research note on Monday, December 8th. Royal Bank Of Canada raised their price target on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, National Bankshares decreased their price target on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$17.40.

Mullen Group Price Performance

The company has a market cap of C$1.43 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a fifty day simple moving average of C$15.00 and a two-hundred day simple moving average of C$14.29. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

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

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation. Mullen also provides a diverse set of specialized services related to the energy, mining, forestry, and construction industries in western Canada.