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

Key Points

• Mullen Group shares crossed above their 200-day moving average, reaching C$27.16 before closing at C$26.72, compared with a 200-day average of C$22.97.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and three Hold, resulting in a “Moderate Buy” consensus, though the average price target of C$26.22 is slightly below the latest trading price.
• The company reported quarterly EPS of C$0.41 on revenue of C$609.3 million, while insider Carson Paul Urlacher purchased 9,500 shares for approximately C$267,900.

Mullen Group Ltd. (TSE:MTL - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$22.97 and traded as high as C$27.16. Mullen Group shares last traded at C$26.72, with a volume of 324,532 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Desjardins upped their price target on Mullen Group from C$23.00 to C$30.00 and gave the company a "buy" rating in a report on Friday, July 24th. Scotiabank raised their price objective on shares of Mullen Group from C$24.00 to C$29.00 in a report on Friday, July 24th. National Bank Financial boosted their price objective on shares of Mullen Group from C$23.00 to C$31.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. BMO Capital Markets boosted their price objective on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Finally, Royal Bank Of Canada upped their target price on shares of Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$26.22.

Mullen Group Trading Down 1.0%

The company has a 50 day simple moving average of C$26.22 and a 200 day simple moving average of C$22.97. 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$2.57 billion, a PE ratio of 24.07, a P/E/G ratio of 1.81 and a beta of 0.83.

Mullen Group (TSE:MTL - Get Free Report) last announced 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 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 other news, insider Carson Paul Urlacher acquired 9,500 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average cost of C$28.20 per share, for a total transaction of C$267,900.00. Following the transaction, the insider directly owned 90,000 shares in the company, valued at approximately C$2,538,000. This represents a 11.80% increase in their position. 6.32% of the stock is currently owned by company 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.

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