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

Mullen Group (TSE:MTL) had its target price raised by Scotiabank from C$16.00 to C$18.50 in a report released on Wednesday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

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

Mullen Group Trading Up 0.8%

MTL opened at C$16.64 on Wednesday. Mullen Group has a fifty-two week low of C$11.81 and a fifty-two week high of C$16.95. The firm has a market capitalization of C$1.45 billion, a PE ratio of 15.70, a P/E/G ratio of 1.81 and a beta of 0.66. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06. The company’s 50-day moving average is C$15.56 and its 200 day moving average is C$14.48.

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

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.