Mullen Group (TSE:MTL) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

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Mullen Group Ltd. (TSE:MTL - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.51 and traded as high as C$13.72. Mullen Group shares last traded at C$13.68, with a volume of 105,323 shares.

Wall Street Analyst Weigh In

MTL has been the topic of a number of research reports. Cormark dropped their price objective on shares of Mullen Group from C$18.50 to C$17.00 in a report on Thursday, April 24th. CIBC lifted their price objective on Mullen Group from C$15.00 to C$16.50 in a research report on Thursday, May 22nd. Desjardins set a C$18.00 price objective on Mullen Group and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lowered their price objective on Mullen Group from C$16.00 to C$14.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Acumen Capital lowered their price objective on Mullen Group from C$18.25 to C$17.25 and set a "buy" rating on the stock in a research report on Friday, July 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$17.25.

Mullen Group Trading Up 0.7%

The firm has a market cap of C$1.22 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a current ratio of 1.62, a quick ratio of 1.06 and a debt-to-equity ratio of 120.69. The stock has a 50 day simple moving average of C$13.87 and a 200-day simple moving average of C$13.51.

About Mullen Group

Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.

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