Mullen Group (TSE:MTL) Hits New 12-Month High – Time to Buy?

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

Analyst Ratings Changes

MTL has been the subject of a number of research analyst reports. National Bank Financial upped their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Acumen Capital upped their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Desjardins raised their price objective 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. Raymond James Financial upped 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. Finally, Scotiabank lifted their price target on Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$20.67.

Mullen Group Trading Down 0.4%

The stock has a market cap of C$2.23 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. The firm’s fifty day simple moving average is C$20.13 and its 200-day simple moving average is C$17.64.

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

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 dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio (DPR) is presently 82.35%.

Insider Buying and Selling at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the transaction, the director directly owned 7,562 shares of the company’s stock, valued at C$162,583. The trade was a 31.64% decrease in their position. Company insiders own 6.32% of the company’s stock.

Mullen Group Company Profile

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.