Mullen Group (TSE:MTL) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Mullen Group shares rose above their 200-day moving average, reaching C$27.19 and last trading at C$27.15, up 1.5%. The stock’s 50-day and 200-day averages are C$23.76 and C$20.11, respectively.
• Analyst sentiment is broadly positive, with five Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average target of C$26.00. Several firms recently raised their targets to between C$30.00 and C$32.00.
• The company reported quarterly revenue of C$609.30 million and EPS of C$0.41, with a 4.65% net margin and 9.35% return on equity. Insider ownership stands at 6.32%; one insider recently bought 9,500 shares, while a director sold 3,500 shares earlier.

Mullen Group Ltd. (TSE:MTL - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$20.11 and traded as high as C$27.19. Mullen Group shares last traded at C$27.15, with a volume of 226,558 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. National Bank Financial raised their price target on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Raymond James Financial upped their price objective on Mullen Group from C$17.00 to C$18.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Royal Bank Of Canada increased their target price on Mullen Group from C$23.00 to C$30.00 in a research note on Friday, July 24th. BMO Capital Markets lifted their target price on Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. Finally, Desjardins lifted their target price on Mullen Group from C$23.00 to C$30.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Mullen Group presently has an average rating of "Moderate Buy" and a consensus target price of C$26.00.

Mullen Group Stock Up 1.5%

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 firm has a market cap of C$2.61 billion, a P/E ratio of 24.46, a PEG ratio of 1.81 and a beta of 1.15. The company's 50 day simple moving average is C$23.76 and its 200-day simple moving average is C$20.11.

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

Insider Activity at Mullen Group

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the completion of the sale, the director directly owned 7,562 shares in the company, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. Also, insider Carson Paul Urlacher bought 9,500 shares of the firm's stock in a transaction on Monday, July 27th. The shares were bought at an average price of C$28.20 per share, with a total value of C$267,900.00. Following the completion of the purchase, the insider owned 90,000 shares in the company, valued at approximately C$2,538,000. The trade was a 11.80% increase in their position. 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.

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