Mullen Group (TSE:MTL) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Mullen Group Ltd. (TSE:MTL) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.95 and traded as high as C$14.27. Mullen Group shares last traded at C$14.00, with a volume of 269,062 shares trading hands.

Wall Street Analyst Weigh In

MTL has been the topic of several research analyst reports. Raymond James Financial set a C$16.75 target price on Mullen Group and gave the stock an “outperform” rating in a report on Friday, July 25th. Acumen Capital reduced their price target on shares of 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. National Bankshares decreased their price objective on shares of Mullen Group from C$17.00 to C$16.50 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Royal Bank Of Canada raised their price objective on shares of 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. Finally, TD Securities boosted their target price 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$17.22.

Mullen Group Trading Up 0.8%

The firm has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.75. The business’s fifty day moving average is C$14.10 and its 200 day moving average is C$13.96. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69.

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

Mullen Group Dividend Announcement

The company also recently disclosed a sep 25 dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.07 per share. Mullen Group’s payout ratio is presently 79.25%.

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.