Mullen Group (TSE:MTL) Given New C$23.00 Price Target at Royal Bank Of Canada

Mullen Group (TSE:MTL) had its price target hoisted by Royal Bank Of Canada from C$21.00 to C$23.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank raised their price objective on Mullen Group from C$19.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce increased their target price on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Raymond James Financial increased their price target on Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. National Bank Financial upped their price target on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Desjardins boosted their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$21.11.

Mullen Group Price Performance

Shares of TSE MTL opened at C$22.76 on Thursday. Mullen Group has a 52 week low of C$12.98 and a 52 week high of C$23.46. The stock has a market cap of C$2.18 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.81 and a beta of 1.13. The company has a current ratio of 2.07, a quick ratio of 1.06 and a debt-to-equity ratio of 91.65. The company’s 50-day moving average price is C$21.76 and its 200 day moving average price is C$18.68.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 earnings per share for the quarter. The business had revenue of C$547.70 million during the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Mullen Group Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a yield of 3.7%. Mullen Group’s payout ratio is presently 82.35%.

Insider Activity

In other news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction dated 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 transaction, the director directly owned 7,562 shares of the company’s stock, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. Insiders own 6.32% of the company’s stock.

About Mullen Group

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.