Mullen Group (TSE:MTL) Sets New 12-Month High - Should You Buy?

Key Points

• Mullen Group hit a new 52-week high, trading as high as C$23.46 and ending around C$23.36, up 2.4% on the session.
• Several analysts raised price targets recently, with two firms upgrading the stock to buy; the consensus rating is now Moderate Buy with an average target of C$21.11.
• The company reported quarterly earnings of C$0.20 per share on revenue of C$547.7 million and pays a monthly dividend of C$0.07 per share, yielding about 3.6%.

Mullen Group Ltd. (TSE:MTL - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$23.46 and last traded at C$23.36, with a volume of 115268 shares changing hands. The stock had previously closed at C$22.82.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank upped their target price on Mullen Group from C$19.00 to C$21.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Desjardins increased 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. National Bank Financial raised their target price on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Raymond James Financial lifted their target price on shares of 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. Finally, Acumen Capital upped their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$21.11.

Mullen Group Trading Up 2.4%

The company has a 50 day simple moving average of C$21.81 and a 200 day simple moving average of C$18.73. 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 stock has a market capitalization of C$2.24 billion, a PE ratio of 22.90, a P/E/G ratio of 1.81 and a beta of 1.13.

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

Mullen Group Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a $0.07 dividend. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, April 30th. Mullen Group's payout ratio is currently 82.35%.

Insider Buying and Selling

In other news, Director Stephen H. Lockwood sold 3,500 shares of the firm's stock in a transaction on 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 sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents 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.

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