Mullen Group (TSE:MTL) Stock Gets Price Target Bump from Raymond James Financial

Key Points

• Raymond James raised Mullen Group’s price target to C$31 from C$25 while maintaining a “market perform” rating, implying 4.66% upside from the prior close. Analysts’ consensus is “Moderate Buy,” with an average target of C$30.22.
• Mullen Group reported third-quarter EPS of C$0.52 on revenue of C$653.17 million, up 16% year over year, supported by stronger transportation operations and productivity gains.
• The stock traded at C$29.62 after falling C$2.66, remaining near its 12-month high of C$32.47. An insider also purchased 9,500 shares worth approximately C$267,900.

Mullen Group (TSE:MTL - Get Free Report) had its target price upped by equities research analysts at Raymond James Financial from C$25.00 to C$31.00 in a report issued on Friday, BayStreet reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's target price indicates a potential upside of 4.66% from the stock's previous close.

A number of other equities research analysts also recently weighed in on MTL. Scotiabank upped their target price on Mullen Group from C$29.00 to C$30.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 15th. Canadian Imperial Bank of Commerce increased their price target on 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. National Bank Financial lifted their price target on Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Scotia boosted their price objective on Mullen Group from C$30.00 to C$33.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Royal Bank Of Canada upped their price objective on Mullen Group from C$30.00 to C$32.00 in a report on Wednesday, September 30th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$30.22.

Mullen Group Price Performance

Shares of MTL stock traded down C$2.66 during midday trading on Friday, reaching C$29.62. 442,379 shares of the company were exchanged, compared to its average volume of 304,232. Mullen Group has a 12 month low of C$13.92 and a 12 month high of C$32.47. The company has a market cap of C$2.84 billion, a P/E ratio of 26.68, a PEG ratio of 1.81 and a beta of 0.83. The company's 50 day moving average price is C$26.44 and its two-hundred day moving average price is C$23.83. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17.

Mullen Group (TSE:MTL - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported C$0.52 earnings per share (EPS) for the quarter. The business had revenue of C$653.17 million during the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%.

Insider Activity

In other Mullen Group news, insider Carson Paul Urlacher acquired 9,500 shares of the stock in a transaction dated Monday, July 27th. The shares were bought at an average price of C$28.20 per share, with a total value of C$267,900.00. Following the purchase, the insider directly owned 90,000 shares of the company's stock, valued at approximately C$2,538,000. This trade represents a 11.80% increase in their position. 6.32% of the stock is owned by corporate insiders.

Mullen Group News Summary

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

• Positive Sentiment: Mullen Group reported third-quarter profit of approximately C$51.5 million, or C$0.52 per share, while revenue rose 16% to C$653.17 million. The results reflect stronger operating performance across its transportation businesses. Trucking firm Mullen Group reports Q3 profit and revenue growth
• Positive Sentiment: Tighter freight capacity and productivity gains helped lift earnings to record levels, providing evidence that Mullen’s operating initiatives are improving profitability. Mullen posts record results as capacity and productivity improve earnings
• Positive Sentiment: An analyst upgrade recently helped Mullen Group reach a new 12-month high, indicating continued confidence in the company’s earnings momentum and outlook. Mullen Group reaches 12-month high after analyst upgrade
• Neutral Sentiment: Management outlined a 25% EBITDA-margin threshold for approving new capital investments as it prepares for a project ramp in 2027. The discipline could protect returns, but may also limit near-term expansion spending. Mullen outlines EBITDA threshold for new capital
• Negative Sentiment: The market’s “earnings reality check” suggests investors may have expected more from the quarter, particularly with the stock trading near its annual high. Strong reported results therefore have not fully overcome valuation and expectation concerns. Mullen Group faces a Q3 earnings reality check

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.

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