Mullen Group (TSE:MTL) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Mullen Group Ltd. (TSE:MTL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.07 and traded as high as C$14.56. Mullen Group shares last traded at C$14.36, with a volume of 328,708 shares trading hands.

Analyst Ratings Changes

MTL has been the subject of a number of analyst reports. Scotiabank decreased their price target 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. Raymond James upgraded Mullen Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from C$17.00 to C$16.75 in a research note on Thursday, April 24th. Cormark decreased their price target on Mullen Group from C$18.50 to C$17.00 in a research note on Thursday, April 24th. National Bankshares decreased their price target 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. Finally, TD Securities decreased their price target on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$17.15.

Mullen Group Price Performance

The company has a 50 day moving average of C$12.84 and a 200-day moving average of C$14.07. The firm has a market capitalization of C$1.28 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69.

Mullen Group Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.84 annualized dividend and a yield of 5.85%. Mullen Group’s dividend payout ratio (DPR) is presently 60.92%.

Insider Activity at Mullen Group

In other news, Senior Officer Joanna Kathryn Scott purchased 2,000 shares of Mullen Group stock in a transaction that occurred 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 bought 2,832 shares of company stock worth $37,153 in the last ninety days. 6.32% of the stock is owned by company 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.