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

Mullen Group Ltd. (TSE:MTL) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.99 and traded as high as C$25.76. Mullen Group shares last traded at C$25.16, with a volume of 250,382 shares trading hands.

Analysts Set New Price Targets

MTL has been the topic of a number of recent analyst reports. 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. Canadian Imperial Bank of Commerce lifted their target price on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. National Bank Financial boosted their price target on Mullen Group from C$23.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Royal Bank Of Canada raised their price objective on Mullen Group from C$23.00 to C$30.00 in a research note on Friday, July 24th. Finally, BMO Capital Markets boosted their target price on shares of Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 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 MarketBeat, Mullen Group currently has an average rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Stock Performance

The company has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.81 and a beta of 1.15. The stock has a 50 day simple moving average of C$24.78 and a 200 day simple moving average of C$21.05. The company has a quick ratio of 1.06, a current ratio of 2.17 and a debt-to-equity ratio of 89.59.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. The business 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%.

Insiders Place Their Bets

In related news, insider Carson Paul Urlacher bought 9,500 shares of the business’s stock in a transaction on Monday, July 27th. The shares were bought at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the purchase, the insider owned 90,000 shares of the company’s stock, valued at C$2,538,000. This represents a 11.80% increase in their position. 6.32% of the stock is owned by corporate 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.