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

Mullen Group Ltd. (TSE:MTL)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.24 and traded as high as C$14.77. Mullen Group shares last traded at C$14.69, with a volume of 51,033 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MTL. BMO Capital Markets upped their target price on shares of Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. National Bankshares raised their target price on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. CIBC upped their target price on shares of Mullen Group from C$16.50 to C$17.50 in a report on Friday, October 25th. Cormark cut their price target on shares of Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. Finally, Raymond James decreased their price objective on shares of Mullen Group from C$18.75 to C$18.50 in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.97.

Mullen Group Stock Performance

The company has a market cap of C$1.29 billion, a PE ratio of 10.96, a P/E/G ratio of 1.81 and a beta of 1.82. The stock’s 50-day simple moving average is C$15.16 and its 200 day simple moving average is C$14.24. The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.84 dividend on an annualized basis and a yield of 5.72%. Mullen Group’s payout ratio is currently 62.69%.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.