Mullen Group (TSE:MTL) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Mullen Group Ltd. (TSE:MTL) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$17.88 and traded as high as C$23.18. Mullen Group shares last traded at C$22.95, with a volume of 177,374 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on MTL. Canadian Imperial Bank of Commerce raised their price objective on Mullen Group from C$18.00 to C$20.00 and gave the company a “neutral” rating in a report on Friday, April 24th. National Bank Financial raised their price objective on Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Acumen Capital raised their price objective on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th. Desjardins raised their price objective on Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Scotiabank raised their price objective on Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$20.67.

Mullen Group Price Performance

The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The stock has a 50 day moving average price of C$20.59 and a 200-day moving average price of C$17.88. The stock has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.

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

Mullen Group Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid 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 dividend yield of 3.7%. Mullen Group’s payout ratio is currently 82.35%.

Insider Activity

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