Brokerages Set Mullen Group Ltd. (TSE:MTL) PT at C$21.11

Shares of Mullen Group Ltd. (TSE:MTL) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$21.11.

MTL has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Mullen Group from C$21.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Scotiabank increased their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce lifted their target price on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Acumen Capital boosted their price target on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Desjardins upped their price target on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, April 24th.

Insider Activity at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. This represents a 31.64% decrease in their ownership of the stock. Insiders own 6.32% of the company’s stock.

Mullen Group Trading Down 0.6%

Shares of MTL stock opened at C$25.63 on Thursday. Mullen Group has a 1 year low of C$12.98 and a 1 year high of C$25.97. The firm’s fifty day simple moving average is C$22.18 and its 200 day simple moving average is C$19.01. The firm has a market capitalization of C$2.46 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. 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 released its earnings results on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$547.70 million during the quarter.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. Mullen Group’s payout ratio is currently 82.35%.

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.