Mullen Group (TSE:MTL) Reaches New 52-Week High Following Analyst Upgrade

Shares of Mullen Group Ltd. (TSE:MTL) reached a new 52-week high during trading on Monday after National Bankshares raised their price target on the stock from C$18.00 to C$19.00. The stock traded as high as C$16.06 and last traded at C$16.00, with a volume of 62656 shares changing hands. The stock had previously closed at C$15.57.

MTL has been the subject of several other research reports. TD Securities lowered their price objective on Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. CIBC upped their price target on shares of Mullen Group from C$16.50 to C$17.50 in a research report on Friday, October 25th. Raymond James lifted their price target on shares of Mullen Group from C$17.25 to C$18.75 in a report on Friday, October 25th. Finally, BMO Capital Markets boosted their price objective on shares of Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$18.97.

Mullen Group Price Performance

The company has a debt-to-equity ratio of 93.56, a current ratio of 0.75 and a quick ratio of 1.06. The stock has a market capitalization of C$1.38 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.81 and a beta of 1.82. The business’s fifty day moving average price is C$14.96 and its 200-day moving average price is C$14.07.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a yield of 5.33%. The ex-dividend date was Thursday, October 31st. Mullen Group’s dividend payout ratio (DPR) is presently 62.69%.

Mullen Group Company Profile

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.