Mullen Group (TSE:MTL) Price Target Increased to C$17.00 by Analysts at Royal Bank of Canada

Mullen Group (TSE:MTL) had its price target raised by Royal Bank of Canada from C$16.00 to C$17.00 in a report released on Friday, BayStreet.CA reports.

MTL has been the subject of a number of other research reports. National Bankshares decreased their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating for the company in a report on Friday, April 26th. BMO Capital Markets reduced their price target on shares of Mullen Group from C$16.00 to C$14.50 in a report on Friday, April 26th. Raymond James reduced their price target on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating for the company in a report on Friday, April 26th. Cormark boosted their price target on shares of Mullen Group from C$18.75 to C$19.50 in a report on Friday. Finally, Scotiabank reduced their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating for the company in a report on Friday, April 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Mullen Group has an average rating of Moderate Buy and a consensus price target of C$18.33.

Mullen Group Trading Up 1.8 %

Shares of MTL opened at C$14.95 on Friday. Mullen Group has a 1-year low of C$12.47 and a 1-year high of C$16.02. The company has a 50-day moving average of C$13.14 and a 200 day moving average of C$13.96. The firm has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.81 and a beta of 1.81. The company has a debt-to-equity ratio of 80.16, a current ratio of 0.78 and a quick ratio of 1.06.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, July 31st. Mullen Group’s payout ratio is currently 52.55%.

Insider Transactions at Mullen Group

In other news, Senior Officer Carson Paul Urlacher acquired 25,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of C$12.90 per share, with a total value of C$322,500.00. Insiders own 6.30% of the company’s stock.

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.