Brokerages Set Mullen Group Ltd. (TSE:MTL) Target Price at C$17.15

Shares of Mullen Group Ltd. (TSE:MTL) have earned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is C$17.15.

MTL has been the subject of a number of research reports. CIBC cut their price target on shares of Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. Royal Bank of Canada cut their price objective on Mullen Group from C$16.00 to C$14.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Raymond James upgraded Mullen Group from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from C$17.00 to C$16.75 in a report on Thursday, April 24th. Scotiabank cut their price objective on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Acumen Capital cut their target price on Mullen Group from C$18.75 to C$18.25 and set a “buy” rating for the company in a research note on Thursday, April 24th.

Mullen Group Price Performance

MTL stock opened at C$14.30 on Friday. 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 has a one year low of C$11.81 and a one year high of C$16.06. The stock has a market cap of C$1.27 billion, a PE ratio of 10.37, a P/E/G ratio of 1.81 and a beta of 1.82. The firm has a 50 day simple moving average of C$12.95 and a two-hundred day simple moving average of C$14.07.

Mullen Group Announces Dividend

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

Insider Activity at Mullen Group

In related news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average cost of C$13.23 per share, for a total transaction of C$26,460.00. Insiders purchased 2,832 shares of company stock worth $37,153 in the last ninety days. 6.32% of the stock is owned by company insiders.

Mullen Group Company Profile

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.