Mullen Group (TSE:MTL) Insider Purchases C$267,900.00 in Stock

Mullen Group Ltd. (TSE:MTL) insider Carson Paul Urlacher acquired 9,500 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were purchased at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately C$2,538,000. This represents a 11.80% increase in their ownership of the stock.

Mullen Group Stock Performance

Mullen Group stock opened at C$27.53 on Friday. The company’s 50-day moving average price is C$23.32 and its 200-day moving average price is C$19.79. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59. The company has a market cap of C$2.65 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. Mullen Group Ltd. has a twelve month low of C$12.98 and a twelve month high of C$28.78.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. The company had revenue of C$609.30 million for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Scotiabank upped their target price on Mullen Group from C$24.00 to C$29.00 in a research note on Friday, July 24th. National Bank Financial upped their target price on Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Acumen Capital increased their price target on Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Raymond James Financial raised their price target on Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and an average target price of C$26.00.

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.