Mullen Group (TSE:MTL) Stock Price Target Raised at Scotia

Key Points

• Scotia raised Mullen Group’s price target to C$33 from C$30 while maintaining a “sector perform” rating, implying 11.41% upside from the prior close.
• Analyst sentiment is generally positive, with four Buy and four Hold ratings producing a “Moderate Buy” consensus and an average target of C$30.22.
• Mullen Group reported quarterly EPS of C$0.52 on C$653.17 million in revenue, while shares recently traded at C$29.62 after reaching a 12-month high of C$32.47.

Mullen Group (TSE:MTL - Get Free Report) had its target price boosted by research analysts at Scotia from C$30.00 to C$33.00 in a research report issued on Friday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. Scotia's price objective points to a potential upside of 11.41% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. Canadian Imperial Bank of Commerce upped their target price on Mullen Group from C$20.00 to C$22.00 and gave the stock a "neutral" rating in a report 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 note on Friday, July 24th. Desjardins boosted their price target on Mullen Group from C$30.00 to C$31.00 and gave the stock a "buy" rating in a report on Tuesday. BMO Capital Markets boosted their price target on Mullen Group from C$25.00 to C$32.00 in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price objective on Mullen Group from C$30.00 to C$32.00 in a research note on Wednesday, September 30th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$30.22.

Mullen Group Price Performance

Shares of MTL traded down C$2.66 during trading hours on Friday, reaching C$29.62. The stock had a trading volume of 442,379 shares, 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 stock has a market capitalization of C$2.84 billion, a PE ratio of 26.68, a PEG ratio of 1.81 and a beta of 0.83. The company has a debt-to-equity ratio of 89.59, a quick ratio of 1.06 and a current ratio of 2.17. The company's 50-day moving average is C$26.44 and its two-hundred day moving average is C$23.83.

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

Insider Activity at Mullen Group

In other Mullen Group news, insider Carson Paul Urlacher acquired 9,500 shares of Mullen Group stock in a transaction that occurred on 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 completion of the purchase, the insider directly owned 90,000 shares in the company, valued at C$2,538,000. This trade represents a 11.80% increase in their position. Company insiders own 6.32% of the company's stock.

Key Mullen Group News

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

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.

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