Mullen Group (TSE:MTL) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Mullen Group (TSE:MTL) from a market perform rating to an outperform rating in a report published on Thursday,BayStreet.CA reports. The firm currently has C$16.75 price target on the stock, down from their prior price target of C$17.00.

Several other analysts have also recently issued reports on the stock. Cormark reduced their price target on shares of Mullen Group from C$18.50 to C$17.00 in a research report on Thursday. National Bankshares decreased their price target on shares of Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating for the company in a research report on Thursday. Scotiabank dropped their price target on shares of Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research note on Thursday. TD Securities reduced their price objective on Mullen Group from C$21.00 to C$18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, CIBC lowered their target price on Mullen Group from C$18.00 to C$15.00 in a research note on Thursday, April 10th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$17.06.

Mullen Group Price Performance

MTL stock opened at C$13.23 on Thursday. The business’s fifty day moving average price is C$12.81 and its 200 day moving average price is C$14.16. Mullen Group has a 12-month low of C$11.81 and a 12-month high of C$16.06. The company has a market capitalization of C$1.18 billion, a PE ratio of 9.59, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.35%. Mullen Group’s payout ratio is currently 60.92%.

Insider Activity at Mullen Group

In other news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were acquired at an average price of C$13.23 per share, for a total transaction of C$26,460.00. Insiders acquired 2,832 shares of company stock valued at $37,153 over the last three months. 6.32% of the stock is owned by corporate insiders.

Mullen Group Company Profile

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.