Mullen Group (TSE:MTL) Reaches New 52-Week High – What’s Next?

Mullen Group Ltd. (TSE:MTL) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$23.12 and last traded at C$23.06, with a volume of 30242 shares changing hands. The stock had previously closed at C$22.66.

Wall Street Analyst Weigh In

MTL has been the topic of several research reports. Raymond James Financial lifted their target price on Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Desjardins increased their price target on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Scotiabank raised their price target on Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Royal Bank Of Canada lifted their price objective on Mullen Group from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Acumen Capital upped their price objective on Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$20.67.

Mullen Group Stock Up 1.9%

The business’s 50 day simple moving average is C$19.87 and its 200 day simple moving average is C$17.52. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65. The firm has a market capitalization of C$2.21 billion, a PE ratio of 22.63, a PEG ratio of 1.81 and a beta of 1.10.

Mullen Group (TSE:MTL) last announced its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$547.70 million for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. Mullen Group’s payout ratio is 82.35%.

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. This represents a 31.64% decrease in their position. Corporate insiders own 6.32% of the company’s stock.

About Mullen Group

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.