Mobility Global (NYSE:MBGL) Stock Gets Price Target Bump from Royal Bank Of Canada

Mobility Global (NYSE:MBGL) had its price target lifted by investment analysts at Royal Bank Of Canada from $23.00 to $25.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price would indicate a potential upside of 7.75% from the company’s previous close.

MBGL has been the subject of a number of other reports. Weiss Ratings upgraded shares of Mobility Global from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 22nd. Barclays upped their price objective on shares of Mobility Global from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen raised shares of Mobility Global to a “hold” rating in a research report on Saturday, July 18th. Zacks Research upgraded Mobility Global to a “hold” rating in a research note on Thursday, July 30th. Finally, Citigroup assumed coverage on Mobility Global in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.00.

Mobility Global Price Performance

Shares of NYSE:MBGL traded up $0.07 during mid-day trading on Friday, hitting $23.20. The company had a trading volume of 5,772,059 shares, compared to its average volume of 3,818,648. The company has a fifty day moving average of $19.08. The firm has a market capitalization of $6.87 billion and a P/E ratio of 128.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.93 and a quick ratio of 1.88. Mobility Global has a one year low of $16.95 and a one year high of $26.00.

Mobility Global (NYSE:MBGL) last released its earnings results on Thursday, November 12th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $478.00 million for the quarter. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that Mobility Global will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Trust Services Inc. purchased a new stake in Mobility Global in the 3rd quarter valued at $25,000. Sterling Capital Management LLC purchased a new position in Mobility Global during the 3rd quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in Mobility Global during the 3rd quarter worth $28,000. CX Institutional purchased a new position in Mobility Global during the 3rd quarter worth $30,000. Finally, Advisors Preferred LLC purchased a new position in Mobility Global during the 2nd quarter worth $36,000.

Mobility Global News Roundup

Investors following MBGL have been watching these news items:

• Positive Sentiment: The company authorized an $800 million share-repurchase program. Its free cash flow and hard-to-replicate data collection network may support continued capital returns, according to coverage of the company. Article: Mobility Global authorizes $800M share repurchase program Article: Why Mobility Global Stock Gained Today
• Positive Sentiment: Wells Fargo raised its price target from $23 to $29 and assigned an “overweight” rating, signaling a more bullish view. Wells Fargo recommendations
• Neutral Sentiment: JPMorgan, Baird, RBC and Barclays also increased their targets, generally to $25–$26, but retained neutral, sector-perform or equal-weight ratings. The higher targets are supportive, while the ratings suggest these firms see more limited near-term conviction. JPMorgan recommendations Baird recommendations

About Mobility Global

Mobility Global is a blank-check company formed to pursue a merger, acquisition, share exchange or similar business combination with an operating business. It does not have established products or services of its own. The company’s stated focus is the mobility sector, which may include businesses involved in transportation, automotive services, logistics and related technologies. Its activities are centered on identifying and completing a suitable business combination.