Mullen Group (TSE:MTL) Price Target Raised to C$29.00

Mullen Group (TSE:MTL) had its price objective upped by Scotiabank from C$24.00 to C$29.00 in a research note released on Friday morning,BayStreet.CA reports. Scotiabank also issued estimates for Mullen Group’s FY2026 earnings at $1.23 EPS and FY2027 earnings at $1.25 EPS.

MTL has been the topic of a number of other research reports. Acumen Capital lifted their target price on Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. National Bank Financial increased their price target on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce raised their price objective on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Raymond James Financial boosted their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Desjardins upped their target price on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$26.00.

Mullen Group Stock Up 7.2%

MTL stock opened at C$28.73 on Friday. The firm has a market cap of C$2.77 billion, a PE ratio of 25.88, a PEG ratio of 1.81 and a beta of 1.13. 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 firm’s 50 day moving average price is C$22.70 and its 200-day moving average price is C$19.41. Mullen Group has a one year low of C$12.98 and a one year high of C$28.78.

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

Mullen Group Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is 75.68%.

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 7,562 shares in the company, valued at C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently owned by corporate 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

Mullen Group Company Profile

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.