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

Mullen Group Ltd. (TSE:MTL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.62 and traded as high as C$16.64. Mullen Group shares last traded at C$16.60, with a volume of 416,873 shares.

Wall Street Analysts Forecast Growth

MTL has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Scotiabank boosted their price objective on Mullen Group from C$16.00 to C$18.50 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. Desjardins increased their target price on Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. National Bankshares lifted their target price on Mullen Group from C$16.50 to C$19.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, TD Securities boosted their price target on shares of Mullen Group from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Mullen Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.95.

Mullen Group Stock Performance

The stock has a market capitalization of C$1.44 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. The stock has a fifty day moving average of C$15.93 and a 200-day moving average of C$14.62.

Mullen Group (TSE:MTL) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$561.72 million for the quarter. Mullen Group had a return on equity of 12.39% and a net margin of 6.18%.

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.