Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Mullen Group (TSE:MTL) Stock

Mullen Group (TSE:MTL) had its price target hoisted by research analysts at Canadian Imperial Bank of Commerce from C$20.00 to C$22.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 1.43% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Scotiabank boosted their price objective on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. National Bank Financial lifted their price target on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Desjardins increased their price objective on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Acumen Capital increased their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada raised their target price on Mullen Group from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Mullen Group currently has a consensus rating of “Moderate Buy” and an average target price of C$20.89.

Mullen Group Stock Up 1.1%

TSE MTL traded up C$0.23 during trading on Tuesday, hitting C$21.69. 106,874 shares of the company traded hands, compared to its average volume of 277,804. Mullen Group has a 12 month low of C$12.98 and a 12 month high of C$23.46. The business has a fifty day simple moving average of C$21.33 and a 200 day simple moving average of C$18.35. The company has a market capitalization of C$2.08 billion, a P/E ratio of 21.26, a PEG ratio of 1.81 and a beta of 1.10. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. The business had revenue of C$547.70 million for the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Insider Activity

In other news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the sale, the director directly owned 7,562 shares of the company’s stock, valued at C$162,583. This represents a 31.64% decrease in their position. Company insiders own 6.32% of the company’s stock.

Mullen Group Company Profile

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.