Mullen Group (TSE:MTL) Price Target Increased to C$17.00 by Analysts at Royal Bank of Canada

Mullen Group (TSE:MTL) had its price objective lifted by Royal Bank of Canada from C$16.00 to C$17.00 in a research report report published on Friday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on MTL. Raymond James lowered their target price on shares of Mullen Group from C$17.00 to C$16.50 and set a market perform rating on the stock in a research report on Friday, April 26th. Scotiabank lowered their price objective on shares of Mullen Group from C$20.00 to C$19.00 and set an outperform rating on the stock in a research report on Friday, April 26th. National Bankshares lowered their price objective on shares of Mullen Group from C$19.50 to C$18.00 and set an outperform rating on the stock in a research report on Friday, April 26th. CIBC lowered their price objective on shares of Mullen Group from C$16.00 to C$15.50 and set an outperform rating on the stock in a research report on Wednesday, July 3rd. Finally, Cormark lifted their price objective on shares of Mullen Group from C$18.75 to C$19.50 in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$18.33.

Mullen Group Stock Performance

Shares of MTL opened at C$14.95 on Friday. The company has a current ratio of 0.78, a quick ratio of 1.06 and a debt-to-equity ratio of 80.16. The firm has a market cap of C$1.32 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.81. The company’s 50 day simple moving average is C$13.14 and its 200-day simple moving average is C$13.96. Mullen Group has a 12-month low of C$12.47 and a 12-month high of C$16.02.

Mullen Group Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.82%. Mullen Group’s payout ratio is currently 52.55%.

Insiders Place Their Bets

In related news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of C$12.90 per share, for a total transaction of C$322,500.00. Insiders own 6.30% of the company’s stock.

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.