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

Mullen Group (TSE:MTL) had its price objective raised by Raymond James Financial from C$25.00 to C$31.00 in a research note released on Friday morning,BayStreet reports. Raymond James Financial currently has a market perform rating on the stock.

Several other research firms have also recently issued reports on MTL. BMO Capital Markets raised their target price on Mullen Group from C$25.00 to C$32.00 in a research note on Friday, July 24th. National Bank Financial increased their price objective on Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Scotiabank increased their price objective on Mullen Group from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. Desjardins lifted their price objective on Mullen Group from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, Canadian Imperial Bank of Commerce lifted 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Mullen Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.22.

Mullen Group Price Performance

Shares of Mullen Group stock opened at C$28.76 on Friday. The company’s fifty day simple moving average is C$26.48 and its two-hundred day simple moving average is C$23.91. Mullen Group has a 12-month low of C$13.92 and a 12-month high of C$32.47. The firm has a market cap of C$2.76 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83. The company has a quick ratio of 1.06, a current ratio of 2.18 and a debt-to-equity ratio of 70.20.

Mullen Group (TSE:MTL) last issued its quarterly earnings data on Thursday, October 22nd. The company reported C$0.52 EPS for the quarter. The firm had revenue of C$653.17 million during the quarter. Mullen Group had a net margin of 5.25% and a return on equity of 10.58%.

More Mullen Group News

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

• Positive Sentiment: Analysts raised price targets. Scotia increased its target to C$33 while maintaining a “sector perform” rating; Raymond James raised its target to C$31 with a “market perform” rating. RBC lifted its target to C$35 and retained an “outperform” rating, while National Bank Financial raised its target to C$36 and also rated the shares “outperform.” Mullen Group analyst price target increases
• Positive Sentiment: Third-quarter results were strong. Mullen Group reported C$51.5 million in profit, revenue of approximately C$653.2 million—up 16% year over year—and earnings of C$0.52 per share. Reports highlighted record results, tighter industry capacity and productivity improvements as key drivers. Mullen Group reports third-quarter profit and revenue growth
• Neutral Sentiment: Management is positioning for future growth. Mullen said it expects new capital spending to meet a 25% EBITDA-margin threshold and is preparing for a project ramp in 2027. This could support longer-term growth, but it also makes execution and future margins important for investors. Mullen Group 2027 capital and EBITDA outlook
• Negative Sentiment: The market may be taking profits after the recent rally. Mullen Group reached a new 12-month high following analyst upgrades, while the “market perform” and “sector perform” ratings from two firms indicate that some analysts view the current valuation as fairly priced. A Q3 “reality check” may also be encouraging investors to focus on forward expectations rather than the strong reported quarter. Mullen Group reaches a new 12-month high

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.