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

Mullen Group Ltd. (TSE:MTL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.73 and traded as high as C$14.47. Mullen Group shares last traded at C$14.42, with a volume of 203,558 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTL. Scotiabank cut Mullen Group from a “strong-buy” rating to a “hold” rating and cut their price target for the stock from C$16.50 to C$16.00 in a report on Thursday, July 10th. TD Securities boosted their price target on Mullen Group from C$18.00 to C$19.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Cibc World Mkts cut Mullen Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 7th. Royal Bank Of Canada upped their target price on Mullen Group from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial set a C$16.75 target price on Mullen Group and gave the company an “outperform” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$17.35.

Mullen Group Price Performance

The stock has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. The company has a 50 day moving average of C$13.92 and a 200 day moving average of C$13.73. 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 Announces Dividend

The company also recently declared a sep 25 dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.07 per share. Mullen Group’s dividend payout ratio (DPR) is presently 74.77%.

Mullen Group Company Profile

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.