Mullen Group (TSE:MTL) Reaches New 1-Year High – Here’s Why

Mullen Group Ltd. (TSE:MTL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.16 and last traded at C$17.12, with a volume of 69227 shares changing hands. The stock had previously closed at C$16.82.

Analysts Set New Price Targets

MTL has been the subject of several research reports. BMO Capital Markets boosted their price target on Mullen Group from C$16.00 to C$18.00 in a research report on Monday, December 8th. TD Securities increased their target price on shares of Mullen Group from C$19.00 to C$20.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada upped their price target on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Desjardins boosted their price objective on Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, National Bankshares lifted their price target on Mullen Group from C$16.50 to C$19.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Mullen Group currently has an average rating of “Moderate Buy” and an average price target of C$17.95.

Mullen Group Trading Up 2.1%

The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. The stock has a market capitalization of C$1.49 billion, a PE ratio of 16.20, a P/E/G ratio of 1.81 and a beta of 0.78. The business’s fifty day moving average is C$15.98 and its 200-day moving average is C$14.64.

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