Mullen Group (TSE:MTL) Reaches New 12-Month High After Analyst Upgrade

Mullen Group Ltd. (TSE:MTL) reached a new 52-week high on Monday after National Bankshares raised their price target on the stock from C$18.00 to C$19.00. The company traded as high as C$16.06 and last traded at C$16.00, with a volume of 62656 shares trading hands. The stock had previously closed at C$15.57.

A number of other research analysts have also recently issued reports on MTL. TD Securities reduced their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. BMO Capital Markets upped their price target on shares of Mullen Group from C$17.00 to C$20.00 in a report on Friday, October 25th. Raymond James boosted their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday, October 25th. Finally, CIBC boosted their price target on Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.97.

Mullen Group Trading Down 1.8 %

The stock has a fifty day simple moving average of C$14.98 and a 200 day simple moving average of C$14.09. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The firm has a market cap of C$1.36 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.84 annualized dividend and a dividend yield of 5.43%. Mullen Group’s payout ratio is 62.69%.

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.