Mullen Group (TSE:MTL) Hits New 1-Year High – Here’s What Happened

Mullen Group Ltd. (TSE:MTL) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$23.46 and last traded at C$23.36, with a volume of 115268 shares traded. The stock had previously closed at C$22.82.

Analyst Ratings Changes

MTL has been the topic of a number of analyst reports. Acumen Capital lifted 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. Royal Bank Of Canada boosted their target price on shares of Mullen Group from C$21.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday. National Bank Financial increased their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce lifted their price objective 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. Finally, Desjardins increased their target price 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. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$21.11.

Mullen Group Price Performance

The stock has a market capitalization of C$2.24 billion, a PE ratio of 22.90, a PEG ratio of 1.81 and a beta of 1.13. The company’s 50 day simple moving average is C$21.81 and its 200 day simple moving average is C$18.73. 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 announced its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 EPS for the quarter. The business had revenue of C$547.70 million during the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Mullen Group Announces Dividend

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

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the transaction, the director directly owned 7,562 shares in the company, valued at C$162,583. This represents a 31.64% decrease in their position. 6.32% of the stock is currently owned by corporate insiders.

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.