Acumen Capital Has Lowered Expectations for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its price objective cut by Acumen Capital from C$18.75 to C$18.25 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on MTL. Scotiabank reduced their target price on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating on the stock in a research note on Thursday. CIBC reduced their price target on shares of Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. National Bankshares lowered their price objective on shares of Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating for the company in a research report on Thursday. TD Securities reduced their target price on shares of Mullen Group from C$21.00 to C$18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Raymond James upgraded Mullen Group from a “market perform” rating to an “outperform” rating and lowered their price target for the company from C$17.00 to C$16.75 in a report on Thursday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$17.06.

Mullen Group Trading Up 6.2 %

Shares of TSE MTL opened at C$13.23 on Thursday. Mullen Group has a fifty-two week low of C$11.81 and a fifty-two week high of C$16.06. The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. The company has a market cap of C$1.18 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.81 and a beta of 1.82. The business’s 50 day moving average price is C$12.81 and its 200-day moving average price is C$14.16.

Mullen Group Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were paid a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Friday, February 28th. Mullen Group’s dividend payout ratio (DPR) is 60.92%.

Insiders Place Their Bets

In other news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of Mullen Group stock in a transaction on Tuesday, February 25th. The stock was acquired at an average cost of C$13.23 per share, for a total transaction of C$26,460.00. Insiders purchased a total of 2,832 shares of company stock worth $37,153 over the last 90 days. Company insiders own 6.32% of the company’s stock.

About Mullen Group

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.