Mullen Group (TSE:MTL) Sets New 1-Year High – Time to Buy?

Mullen Group Ltd. (TSE:MTL)’s share price reached a new 52-week high during mid-day trading on Monday . The stock 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.

Analysts Set New Price Targets

MTL has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Acumen Capital increased their price target on Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price target on Mullen Group from C$18.00 to C$20.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Raymond James Financial boosted their price objective 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. Finally, Royal Bank Of Canada upped their price objective on Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research report 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$20.67.

Mullen Group Trading Up 1.9%

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 company has a market capitalization of C$2.21 billion, a P/E ratio of 22.63, a PEG ratio of 1.81 and a beta of 1.10. The company’s fifty day simple moving average is C$19.87 and its 200-day simple moving average is C$17.52.

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

Mullen Group Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.07 per share. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, April 30th. Mullen Group’s dividend payout ratio (DPR) is 82.35%.

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the director directly owned 7,562 shares of the company’s stock, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. 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.