Mullen Group (TSE:MTL) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Mullen Group Ltd. (TSE:MTL) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$14.31 and traded as high as C$14.83. Mullen Group shares last traded at C$14.80, with a volume of 151,782 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTL. CIBC raised their price objective on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Cormark dropped their price target on Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. Raymond James reduced their price objective on Mullen Group from C$18.75 to C$18.50 in a research note on Tuesday, December 10th. TD Securities decreased their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their target price on Mullen Group from C$17.00 to C$20.00 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 MarketBeat.com, Mullen Group currently has a consensus rating of “Moderate Buy” and an average price target of C$18.97.

Mullen Group Price Performance

The company has a fifty day simple moving average of C$15.18 and a two-hundred day simple moving average of C$14.31. 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 company has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 11.04, a P/E/G 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 Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.84 annualized dividend and a yield of 5.68%. Mullen Group’s dividend payout ratio (DPR) is presently 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.