Mullen Group (TSE:MTL) Price Target Raised to C$32.00

Mullen Group (TSE:MTL) had its price target raised by BMO Capital Markets from C$25.00 to C$32.00 in a report issued on Friday morning,BayStreet.CA reports.

Several other brokerages also recently commented on MTL. Royal Bank Of Canada raised their target price on shares of Mullen Group from C$23.00 to C$30.00 in a report on Friday. Desjardins upped their price target on shares of Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a report on Friday. Raymond James Financial increased their price objective 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. Acumen Capital raised 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 report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Mullen Group has an average rating of “Moderate Buy” and an average target price of C$26.00.

Mullen Group Trading Up 7.2%

TSE MTL opened at C$28.73 on Friday. The firm has a market cap of C$2.77 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The stock’s 50-day moving average is C$22.70 and its 200-day moving average 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 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 for the quarter.

Mullen Group Announces Dividend

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

Insider Buying and Selling

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director owned 7,562 shares in the company, valued at approximately C$162,583. The trade was a 31.64% decrease in their position. Insiders own 6.32% of the company’s stock.

Key Stories Impacting Mullen Group

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.