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

Mullen Group Ltd. (TSE:MTL)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$27.13 and last traded at C$27.13, with a volume of 80765 shares traded. The stock had previously closed at C$25.60.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. National Bank Financial boosted their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Scotiabank increased their target price on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Raymond James Financial lifted their price target on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada boosted their price target on Mullen Group from C$21.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$21.11.

Mullen Group Price Performance

The firm has a market cap of C$2.51 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.81 and a beta of 1.13. The company’s fifty day moving average is C$22.45 and its 200 day moving average is C$19.24. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65.

Mullen Group (TSE:MTL) last issued its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$609.30 million for the quarter.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 3.2%. Mullen Group’s dividend payout ratio (DPR) is presently 82.35%.

Insider Activity

In related news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group 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 sale, the director owned 7,562 shares of the company’s stock, valued at approximately C$162,583. The trade was a 31.64% decrease in their ownership of the stock. Corporate insiders own 6.32% of the company’s stock.

About Mullen Group

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.