Mullen Group (TSE:MTL) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Mullen Group Ltd. (TSE:MTL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.33 and traded as high as C$24.87. Mullen Group shares last traded at C$24.56, with a volume of 246,430 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTL. Scotiabank upped their price objective on Mullen Group from C$24.00 to C$29.00 in a research report on Friday, July 24th. BMO Capital Markets boosted their target price on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce upped their price target on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Desjardins increased their price target on Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Royal Bank Of Canada lifted their price objective on Mullen Group from C$23.00 to C$30.00 in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Mullen Group presently has an average rating of “Moderate Buy” and an average target price of C$26.00.

Mullen Group Trading Up 2.2%

The firm has a market capitalization of C$2.47 billion, a PE ratio of 23.09, a PEG ratio of 1.81 and a beta of 0.94. The company’s 50-day moving average price is C$25.23 and its 200-day moving average price is C$21.39. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17.

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

Insider Buying and Selling at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher bought 9,500 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were acquired at an average price of C$28.20 per share, with a total value of C$267,900.00. Following the transaction, the insider owned 90,000 shares of the company’s stock, valued at approximately C$2,538,000. The trade was a 11.80% increase in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

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.