Analysts Set Mullen Group Ltd. (TSE:MTL) Target Price at C$17.15

Mullen Group Ltd. (TSE:MTL) has been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is C$17.15.

MTL has been the topic of several research reports. National Bankshares dropped their price objective on shares of Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Raymond James raised Mullen Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from C$17.00 to C$16.75 in a research report on Thursday, April 24th. Acumen Capital lowered their target price on Mullen Group from C$18.75 to C$18.25 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Cormark lowered their target price on Mullen Group from C$18.50 to C$17.00 in a research report on Thursday, April 24th. Finally, Desjardins set a C$18.00 target price on Mullen Group and gave the stock a “buy” rating in a research report on Tuesday, May 13th.

Mullen Group Stock Down 0.6%

Mullen Group stock opened at C$14.30 on Friday. The firm’s fifty day moving average is C$12.95 and its 200 day moving average is C$14.07. Mullen Group has a 12-month low of C$11.81 and a 12-month high of C$16.06. The company has a market capitalization of C$1.27 billion, a PE ratio of 10.37, a PEG ratio of 1.81 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

Mullen Group Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.87%. The ex-dividend date was Wednesday, April 30th. Mullen Group’s dividend payout ratio (DPR) is presently 60.92%.

Insider Activity

In other news, Senior Officer Joanna Kathryn Scott purchased 2,000 shares of Mullen Group stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average cost of C$13.23 per share, for a total transaction of C$26,460.00. Over the last three months, insiders purchased 2,832 shares of company stock worth $37,153. 6.32% of the stock is owned by corporate insiders.

About Mullen Group

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.