Mullen Group (TSE:MTL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Mullen Group Ltd. (TSE:MTL) passed 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 changing hands.

Analysts Set New Price Targets

MTL has been the topic of a number of recent research reports. Raymond James Financial lowered shares of Mullen Group from a “moderate buy” rating to a “hold” rating in a research report on Monday, December 8th. CIBC increased their price target on Mullen Group from C$15.00 to C$17.00 in a report on Thursday, January 8th. Desjardins lifted their price objective on Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Royal Bank Of Canada upped their target price on Mullen Group from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, National Bankshares raised their target price on Mullen Group from C$16.50 to C$19.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$17.95.

Mullen Group Stock Up 3.2%

The company has a debt-to-equity ratio of 120.69, a current ratio of 1.62 and a quick ratio of 1.06. The stock has a market capitalization of C$1.44 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.81 and a beta of 0.66. The business 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 released its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.36 earnings per share for the quarter. The business had revenue of C$561.72 million during the quarter. Mullen Group had a return on equity of 12.39% and a net margin of 6.18%.

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.