Royal Bank of Canada Cuts Mullen Group (TSE:MTL) Price Target to C$14.00

Mullen Group (TSE:MTL) had its target price decreased by Royal Bank of Canada from C$16.00 to C$14.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on MTL. Scotiabank cut their target price on shares of Mullen Group from C$20.00 to C$19.00 in a report on Thursday, January 30th. Raymond James lowered their price target on Mullen Group from C$18.50 to C$17.50 in a research report on Friday, February 14th. CIBC reduced their price objective on Mullen Group from C$18.00 to C$15.00 in a report on Thursday, April 10th. Finally, TD Securities cut their price objective on shares of Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$17.06.

Mullen Group Trading Up 6.2 %

Shares of MTL stock opened at C$13.23 on Tuesday. The company has a market capitalization of C$1.18 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. Mullen Group has a 12-month low of C$11.81 and a 12-month high of C$16.06. The firm has a 50-day moving average price of C$12.81 and a 200 day moving average price of C$14.16.

Mullen Group Dividend Announcement

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

Insiders Place Their Bets

In related news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average cost of C$13.23 per share, with a total value of C$26,460.00. Insiders bought a total of 2,832 shares of company stock valued at $37,153 over the last quarter. 6.32% of the stock is owned by corporate insiders.

Mullen Group Company Profile

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.