Mullen Group (TSE:MTL) Given New C$29.00 Price Target at Scotiabank

Mullen Group (TSE:MTL) had its target price raised by investment analysts at Scotiabank from C$24.00 to C$29.00 in a research note issued on Friday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 1.97% from the stock’s previous close. 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 subject of a number of other reports. Acumen Capital increased their price target 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. Canadian Imperial Bank of Commerce upped 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 note on Tuesday, June 30th. Desjardins increased their target price on shares of Mullen Group from C$20.00 to C$23.00 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 company a “market perform” rating in a research note on Friday, April 24th. Finally, National Bank Financial boosted their price target on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$26.00.

Mullen Group Stock Up 6.1%

TSE:MTL traded up C$1.64 during trading hours on Friday, hitting C$28.44. 349,788 shares of the company’s stock traded hands, compared to its average volume of 283,143. The firm has a market cap of C$2.73 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.81 and a beta of 1.13. Mullen Group has a twelve month low of C$12.98 and a twelve month high of C$28.78. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. The stock’s fifty day moving average price is C$22.56 and its two-hundred day moving average price is C$19.32.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.The firm had revenue of C$609.30 million during the quarter.

Insider Buying and Selling

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the transaction, the director owned 7,562 shares in the company, valued at C$162,583. This represents a 31.64% decrease in their position. 6.32% of the stock is owned by corporate insiders.

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.