Mullen Group (TSE:MTL) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Mullen Group Ltd. (TSE:MTL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$20.60 and traded as high as C$26.84. Mullen Group shares last traded at C$26.50, with a volume of 196,982 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Acumen Capital increased their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Desjardins boosted their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. BMO Capital Markets upped their target price on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Scotiabank upped their target price on shares of Mullen Group from C$24.00 to C$29.00 in a research note on Friday, July 24th. Finally, Royal Bank Of Canada increased their price target on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$26.00.

Mullen Group Price Performance

The firm has a market capitalization of C$2.50 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. The company’s fifty day moving average price is C$24.40 and its 200 day moving average price is C$20.67. 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 issued its earnings results on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. The company 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 other news, insider Carson Paul Urlacher purchased 9,500 shares of the stock in a transaction dated Monday, July 27th. The stock was acquired at an average price of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of 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. 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.