Brokerages Set Mullen Group Ltd. (TSE:MTL) Target Price at C$18.16

Mullen Group Ltd. (TSE:MTL) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$17.06.

A number of brokerages have recently commented on MTL. Acumen Capital lowered their price target on Mullen Group from C$18.75 to C$18.25 and set a “buy” rating on the stock in a report on Thursday, April 24th. Scotiabank decreased their target price on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research note on Thursday, April 24th. National Bankshares decreased their target price on Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. CIBC decreased their target price on Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. Finally, Cormark decreased their target price on Mullen Group from C$18.50 to C$17.00 in a research note on Thursday, April 24th.

Insider Activity

In related news, Senior Officer Joanna Kathryn Scott acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of C$13.23 per share, for a total transaction of C$26,460.00. Insiders have bought 2,832 shares of company stock worth $37,153 over the last 90 days. 6.32% of the stock is owned by company insiders.

Mullen Group Price Performance

Shares of MTL opened at C$13.09 on Tuesday. The firm has a market capitalization of C$1.17 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a debt-to-equity ratio of 120.69, a quick ratio of 1.06 and a current ratio of 1.62. Mullen Group has a one year low of C$11.81 and a one year high of C$16.06. The stock’s fifty day moving average is C$12.79 and its 200-day moving average is C$14.14.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.42%. Mullen Group’s dividend payout ratio is currently 60.92%.

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.