Mullen Group (TSE:MTL) Share 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 Friday . The stock has a 200-day moving average of C$21.72 and traded as high as C$26.49. Mullen Group shares last traded at C$25.61, with a volume of 145,790 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTL. BMO Capital Markets lifted their target price on Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Royal Bank Of Canada increased their price target on Mullen Group from C$23.00 to C$30.00 in a report on Friday, July 24th. Desjardins raised their price objective on Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce raised their price objective 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. Finally, National Bank Financial lifted their price objective on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$26.00.

Mullen Group Stock Up 0.5%

The company has a current ratio of 2.17, a quick ratio of 1.06 and a debt-to-equity ratio of 89.59. The stock has a market capitalization of C$2.46 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.81 and a beta of 0.94. The stock’s 50 day simple moving average is C$25.74 and its 200 day simple moving average is C$21.72.

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

Insider Buying and Selling

In other news, insider Carson Paul Urlacher acquired 9,500 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was purchased at an average cost of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the acquisition, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This represents a 11.80% increase in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

About Mullen Group

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.