Mullen Group Ltd. (TSE:MTL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Mullen Group Ltd. (TSE:MTL) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$17.15.

MTL has been the subject of a number of analyst reports. Desjardins set a C$18.00 price target on Mullen Group and gave the company a “buy” rating in a research note on Tuesday. Cormark cut their price target on Mullen Group from C$18.50 to C$17.00 in a research note on Thursday, April 24th. CIBC cut their price target on Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. Raymond James upgraded Mullen Group from a “market perform” rating to an “outperform” rating and cut their price target for the company from C$17.00 to C$16.75 in a research note on Thursday, April 24th. Finally, TD Securities cut their price target on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th.

Insider Buying and Selling at Mullen Group

In other Mullen Group news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the stock in a transaction on Tuesday, February 25th. The shares were acquired at an average price of C$13.23 per share, with a total value of C$26,460.00. Insiders have acquired 2,832 shares of company stock valued at $37,153 in the last 90 days. 6.32% of the stock is currently owned by company insiders.

Mullen Group Stock Performance

MTL opened at C$14.30 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69. The company’s fifty day moving average price is C$12.92 and its two-hundred day moving average price is C$14.07. Mullen Group has a 1-year low of C$11.81 and a 1-year high of C$16.06. The company has a market cap of C$1.27 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.84 dividend on an annualized basis and a yield of 5.87%. Mullen Group’s payout ratio is 60.92%.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.