National Bank Financial upgraded shares of Mullen Group (TSE:MTL) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday. The brokerage currently has C$16.50 target price on the stock.

MTL has been the subject of a number of other reports. Scotiabank cut Mullen Group from an outperform rating to a sector perform rating and decreased their price objective for the stock from C$18.00 to C$17.50 in a research report on Thursday, October 12th. Canaccord Genuity reduced their price target on Mullen Group from C$19.00 to C$18.00 in a report on Friday, October 27th. TD Securities reissued a hold rating and issued a C$18.00 price target on shares of Mullen Group in a report on Tuesday, October 31st. Industrial Alliance Securities reduced their price target on Mullen Group from C$20.00 to C$19.00 and set a strong-buy rating for the company in a report on Tuesday, December 12th. Finally, CIBC reduced their price target on Mullen Group from C$19.00 to C$18.00 in a report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of C$17.08.

Mullen Group (MTL) traded down C$0.38 on Thursday, reaching C$14.44. The company had a trading volume of 80,834 shares, compared to its average volume of 117,965. Mullen Group has a 1 year low of C$14.22 and a 1 year high of C$17.62. The firm has a market cap of $1,540.00, a price-to-earnings ratio of 25.44 and a beta of 0.25.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, January 30th. This is a boost from Mullen Group’s previous monthly dividend of $0.03. This represents a $0.60 annualized dividend and a yield of 4.16%. Mullen Group’s payout ratio is currently 68.42%.

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About Mullen Group

Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.

Analyst Recommendations for Mullen Group (TSE:MTL)

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