Mullen Group (TSE:MTL) Reaches New 52-Week High – Should You Buy?

Mullen Group Ltd. (TSE:MTL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$22.32 and last traded at C$22.02, with a volume of 187428 shares. The stock had previously closed at C$21.80.

Wall Street Analysts Forecast Growth

MTL has been the topic of several analyst reports. Desjardins increased their price target on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. National Bank Financial raised their target price on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial raised their target price on shares of 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 raised their target price on shares of Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Mullen Group from C$18.00 to C$20.00 and gave the company a “neutral” rating in a research note 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$20.67.

Mullen Group Stock Up 1.0%

The business’s 50 day moving average is C$19.42 and its 200-day moving average is C$17.28. 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 firm has a market capitalization of C$2.11 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84.

Mullen Group (TSE:MTL) last posted its earnings results on Thursday, April 23rd. The company reported C$0.20 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 business had revenue of C$547.70 million for the quarter.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 3.8%. Mullen Group’s dividend payout ratio is 82.35%.

Insiders Place Their Bets

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the sale, the director directly owned 7,562 shares of the company’s stock, valued at C$162,583. This represents a 31.64% decrease in their position. 6.32% of the stock is currently owned by company insiders.

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.