Mullen Group Ltd. (TSE:MTL – Get Rating) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$12.43 and traded as high as C$14.77. Mullen Group shares last traded at C$14.67, with a volume of 377,887 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MTL shares. Raymond James raised Mullen Group from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from C$14.50 to C$18.00 in a report on Friday, July 22nd. Scotiabank increased their target price on Mullen Group from C$15.50 to C$16.00 in a research report on Friday, April 22nd. Haywood Securities increased their target price on Mullen Group to C$17.00 and gave the stock a “buy” rating in a research report on Friday, July 22nd. Credit Suisse Group upgraded Mullen Group to a “strong-buy” rating and set a C$18.00 target price on the stock in a research report on Friday, July 22nd. Finally, CIBC increased their target price on Mullen Group from C$14.00 to C$15.50 in a research report on Friday, July 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mullen Group currently has an average rating of “Buy” and a consensus price target of C$17.27.
Mullen Group Stock Up 1.0 %
The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 91.09. The company has a market cap of C$1.36 billion and a PE ratio of 14.67. The stock has a 50-day moving average of C$12.31 and a 200-day moving average of C$12.43.
Mullen Group Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 15th will be paid a $0.06 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.72 dividend on an annualized basis and a yield of 4.91%. Mullen Group’s dividend payout ratio is presently 56.00%.
Insider Activity at Mullen Group
In other news, Director Philip Scherman bought 3,700 shares of Mullen Group stock in a transaction that occurred on Wednesday, June 15th. The shares were acquired at an average price of C$11.86 per share, with a total value of C$43,882.00. Following the completion of the purchase, the director now directly owns 4,400 shares in the company, valued at C$52,184.
About Mullen Group
Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The company operates in four segments: Less-Than-Truckload, Logistics & Warehousing, Specialized & Industrial Services, and U.S. & International Logistics. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products.
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