Mullen Group (TSE:MTL) Price Target Raised to C$31.00

Mullen Group (TSE:MTL) had its target price raised by National Bank Financial from C$23.00 to C$31.00 in a report released on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on MTL. Acumen Capital boosted their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Raymond James Financial lifted their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce upped their price target on shares of Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Scotiabank increased their price target on shares of Mullen Group from C$24.00 to C$29.00 in a research report on Friday. Finally, Royal Bank Of Canada increased their price target on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$26.00.

Mullen Group Stock Up 7.2%

MTL opened at C$28.73 on Friday. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17. The company has a market cap of C$2.77 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.81 and a beta of 1.13. Mullen Group has a one year low of C$12.98 and a one year high of C$28.78. The business’s fifty day moving average is C$22.70 and its two-hundred day moving average is C$19.41.

Mullen Group (TSE:MTL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.The business had revenue of C$609.30 million during the quarter.

Mullen Group Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a $0.07 dividend. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is currently 75.68%.

Insider Activity at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of Mullen Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the completion of the sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents a 31.64% decrease in their position. 6.32% of the stock is currently owned by insiders.

Key Mullen Group News

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

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.