Mullen Group (TSE:MTL – Get Free Report) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Friday, BayStreet.CA reports. The brokerage currently has a C$17.00 price objective on the stock, up from their previous price objective of C$14.50. BMO Capital Markets’ target price would indicate a potential upside of 15.41% from the stock’s current price.
Several other brokerages also recently commented on MTL. Royal Bank of Canada upped their price target on shares of Mullen Group from C$16.00 to C$17.00 in a report on Friday. Raymond James increased their target price on shares of Mullen Group from C$16.50 to C$17.00 in a research report on Friday. National Bankshares cut their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. CIBC cut their price objective on shares of Mullen Group from C$16.00 to C$15.50 and set an “outperform” rating on the stock in a research note on Wednesday, July 3rd. Finally, Cormark raised their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$18.33.
Check Out Our Latest Research Report on MTL
Mullen Group Price Performance
Mullen Group (TSE:MTL – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported C$0.25 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.05). The firm had revenue of C$462.60 million for the quarter, compared to the consensus estimate of C$501.00 million. Mullen Group had a net margin of 6.49% and a return on equity of 13.19%. On average, research analysts anticipate that Mullen Group will post 1.2780488 earnings per share for the current year.
Insider Buying and Selling
In other Mullen Group news, Senior Officer Carson Paul Urlacher purchased 25,000 shares of Mullen Group stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of C$12.90 per share, for a total transaction of C$322,500.00. 6.30% of the stock is owned by insiders.
Mullen Group Company Profile
Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.
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