Mullen Group (TSE:MTL) Hits New 1-Year High – Still a Buy?

Mullen Group Ltd. (TSE:MTL)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$22.37 and last traded at C$21.85, with a volume of 1195065 shares trading hands. The stock had previously closed at C$21.94.

Analyst Ratings Changes

Several equities analysts recently commented on MTL shares. Raymond James Financial increased their target price on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. National Bank Financial increased their target price on Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Acumen Capital increased their target price on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th. 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. Finally, Royal Bank Of Canada increased their target price on Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Mullen Group currently has an average rating of “Moderate Buy” and an average price target of C$20.67.

Mullen Group Stock Performance

The firm has a fifty day simple moving average of C$18.75 and a 200-day simple moving average of C$16.94. The company has a market cap of C$2.06 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65.

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

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 3.9%. Mullen Group’s dividend payout ratio (DPR) is presently 82.35%.

Insider Activity

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 7,562 shares of the company’s stock, valued at approximately C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 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.