Mullen Group (TSE:MTL) Stock Passes Above 200-Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.86 and traded as high as C$14.29. Mullen Group shares last traded at C$14.08, with a volume of 167,154 shares changing hands.

Analyst Upgrades and Downgrades

MTL has been the topic of several analyst reports. Acumen Capital cut their target price on Mullen Group from C$18.75 to C$18.25 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial upgraded Mullen Group from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from C$17.00 to C$16.75 in a report on Thursday, April 24th. National Bankshares dropped their price target on Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. TD Securities dropped their price target on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Desjardins set a C$18.00 price target on Mullen Group and gave the stock a “buy” rating in a report on Thursday, May 22nd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Mullen Group has an average rating of “Buy” and a consensus target price of C$17.30.

Mullen Group Stock Performance

The stock has a market capitalization of C$1.25 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a 50 day simple moving average of C$13.58 and a 200-day simple moving average of C$13.86. The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06.

Mullen Group Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were paid a $0.07 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $0.84 annualized dividend and a dividend yield of 5.97%. Mullen Group’s payout ratio is presently 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.