Mullen Group (TSE:MTL) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Mullen Group Ltd. (TSE:MTL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$20.11 and traded as high as C$27.19. Mullen Group shares last traded at C$27.15, with a volume of 226,558 shares traded.

Analysts Set New Price Targets

MTL has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce boosted their price target on Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. BMO Capital Markets raised their price objective on shares of Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. National Bank Financial boosted their target price on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Royal Bank Of Canada boosted their target price on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday, July 24th. Finally, Acumen Capital upped their target price on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Up 1.5%

The company has a market capitalization of C$2.61 billion, a PE ratio of 24.46, a P/E/G ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The company has a 50-day moving average of C$23.76 and a two-hundred day moving average of C$20.11.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. The business had revenue of C$609.30 million during the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.

Insider Transactions at Mullen Group

In related news, insider Carson Paul Urlacher acquired 9,500 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was bought at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the purchase, the insider owned 90,000 shares in the company, valued at C$2,538,000. The trade was a 11.80% increase in their position. Also, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the completion of the sale, the director directly owned 7,562 shares of the company’s stock, valued at C$162,583. This represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is owned by insiders.

Mullen Group Company Profile

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.