Mullen Group (TSE:MTL) Stock Price Passes Above 200 Day Moving Average - Here's Why

Mullen Group Ltd. (TSE:MTL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.54 and traded as high as C$14.93. Mullen Group shares last traded at C$14.92, with a volume of 256,778 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTL shares. Scotiabank dropped their price objective on Mullen Group from C$20.00 to C$19.00 in a report on Monday, January 20th. Cormark lowered their price target on Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. National Bankshares upped their price target on Mullen Group from C$18.00 to C$19.00 in a research note on Monday, December 9th. Raymond James lowered their price target on Mullen Group from C$18.75 to C$18.50 in a research note on Tuesday, December 10th. Finally, BMO Capital Markets upped their price target on Mullen Group from C$17.00 to C$20.00 in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$18.97.

Mullen Group Price Performance

The company has a debt-to-equity ratio of 93.56, a quick ratio of 1.06 and a current ratio of 0.75. The company has a 50-day moving average of C$15.06 and a 200-day moving average of C$14.56. The firm has a market capitalization of C$1.31 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.81 and a beta of 1.82.

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.