Mullen Group (TSE:MTL) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.07 and traded as high as C$14.56. Mullen Group shares last traded at C$14.36, with a volume of 328,708 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTL. Scotiabank cut their target price on Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating for the company in a research report on Thursday, April 24th. National Bankshares cut their target price on Mullen Group from C$19.00 to C$18.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. CIBC dropped their price objective on Mullen Group from C$18.00 to C$15.00 in a research report on Thursday, April 10th. Cormark dropped their price objective on Mullen Group from C$18.50 to C$17.00 in a research report on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price objective on Mullen Group from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Mullen Group has a consensus rating of “Buy” and a consensus target price of C$17.15.

Mullen Group Stock Up 3.0%

The stock has a 50 day moving average price of C$12.84 and a 200 day moving average price of C$14.07. The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

Mullen Group Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend is Wednesday, April 30th. Mullen Group’s payout ratio is 60.92%.

Insider Activity

In related news, Senior Officer Joanna Kathryn Scott acquired 2,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was bought at an average cost of C$13.23 per share, for a total transaction of C$26,460.00. Over the last three months, insiders have bought 2,832 shares of company stock valued at $37,153. 6.32% of the stock is currently owned by corporate insiders.

About Mullen Group

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.