Scotiabank Boosts Mullen Group (TSE:MTL) Price Target to C$18.50

Mullen Group (TSE:MTL) had its price objective upped by research analysts at Scotiabank from C$16.00 to C$18.50 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 10.78% from the stock’s current price.

Several other equities research analysts also recently commented on MTL. Raymond James Financial downgraded Mullen Group from a “moderate buy” rating to a “hold” rating in a report on Monday, December 8th. BMO Capital Markets increased their price objective on Mullen Group from C$16.00 to C$18.00 in a report on Monday, December 8th. Royal Bank Of Canada boosted their price target on Mullen Group from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. TD Securities upped their price target on shares of Mullen Group from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, National Bankshares raised their price objective on shares of Mullen Group from C$16.50 to C$19.00 and gave the stock an “outperform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$17.95.

Mullen Group Stock Up 1.2%

Shares of MTL stock traded up C$0.20 during trading hours on Wednesday, hitting C$16.70. 117,811 shares of the company were exchanged, compared to its average volume of 161,090. The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. The stock has a market capitalization of C$1.45 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.81 and a beta of 0.66. Mullen Group has a one year low of C$11.81 and a one year high of C$16.95. The business’s 50-day simple moving average is C$15.51 and its two-hundred day simple moving average is C$14.47.

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