Mullen Group (TSE:MTL) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Mullen Group shares rose above their 200-day moving average, reaching C$24.87 before closing at C$24.56, compared with a 200-day average of C$21.33.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds. The stock has a “Moderate Buy” consensus rating and a C$26.00 average price target, while several firms raised targets to C$30–C$32.
• The company reported quarterly EPS of C$0.41 and revenue of C$609.3 million; insider Carson Paul Urlacher also purchased 9,500 shares at C$28.20 each.

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.33 and traded as high as C$24.87. Mullen Group shares last traded at C$24.56, with a volume of 246,430 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. National Bank Financial increased 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. Desjardins lifted their price objective 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. Canadian Imperial Bank of Commerce upped their target price on Mullen Group from C$20.00 to C$22.00 and gave the company a "neutral" rating in a research report on Tuesday, June 30th. BMO Capital Markets increased their target price on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their price target on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$26.00.

Mullen Group Price Performance

The company has a 50 day simple moving average of C$25.16 and a 200-day simple moving average of C$21.33. The stock has a market cap of C$2.36 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.81 and a beta of 1.15. 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 - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The company had revenue of C$609.30 million during the quarter.

Insider Transactions at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher acquired 9,500 shares of the firm's stock in a transaction on Monday, July 27th. The stock was purchased at an average price 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 trade represents a 11.80% increase in their position. 6.32% of the stock is owned by company insiders.

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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