Desjardins Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective hoisted by analysts at Desjardins from C$20.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 14.89% from the stock’s current price.

Several other equities analysts have also recently issued reports on MTL. Royal Bank Of Canada boosted their target price on Mullen Group from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Scotiabank boosted their target price on Mullen Group from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 9th. National Bank Financial boosted their target price on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Canadian Imperial Bank of Commerce boosted their target price on Mullen Group from C$15.00 to C$17.00 in a research report on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Mullen Group has an average rating of “Moderate Buy” and an average target price of C$20.67.

Mullen Group Stock Performance

TSE MTL traded up C$0.58 on Friday, hitting C$20.02. 318,424 shares of the company’s stock were exchanged, compared to its average volume of 289,918. The company has a debt-to-equity ratio of 111.51, a current ratio of 2.17 and a quick ratio of 1.06. The firm’s 50-day moving average price is C$17.23 and its two-hundred day moving average price is C$16.01. Mullen Group has a fifty-two week low of C$12.86 and a fifty-two week high of C$20.19. The firm has a market cap of C$1.92 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.81 and a beta of 0.76.

Mullen Group (TSE:MTL) last released its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. Mullen Group had a return on equity of 8.68% and a net margin of 4.27%.The company had revenue of C$547.70 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.