Mullen Group (TSE:MTL) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Mullen Group Ltd. (TSE:MTL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.85 and traded as high as C$15.65. Mullen Group shares last traded at C$15.47, with a volume of 66,575 shares trading hands.

Wall Street Analyst Weigh In

MTL has been the subject of a number of recent research reports. Cormark lifted their target price on Mullen Group from C$18.75 to C$19.50 in a report on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of Mullen Group from C$16.00 to C$17.00 in a research note on Friday, July 26th. BMO Capital Markets increased their target price on shares of Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. TD Securities dropped their price target on shares of Mullen Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Raymond James increased their price objective on shares of Mullen Group from C$17.25 to C$18.75 in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$18.86.

Mullen Group Stock Performance

The company has a current ratio of 0.75, a quick ratio of 1.06 and a debt-to-equity ratio of 93.56. The company has a market capitalization of C$1.36 billion, a PE ratio of 11.54, a PEG ratio of 1.81 and a beta of 1.82. The firm’s 50-day simple moving average is C$14.59 and its 200-day simple moving average is C$13.85.

Mullen Group Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.07 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.43%. Mullen Group’s payout ratio is 62.69%.

About Mullen Group

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.