Mullen Group (TSE:MTL) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised its price target on Mullen Group from C$24.00 to C$29.00, implying modest upside from the current share price. The bank also lifted its earnings estimates for FY2026 and FY2027.
• Sentiment on the stock has improved across Wall Street, with several firms recently increasing their targets; the consensus rating is now Moderate Buy with an average price target of C$26.00.
• Mullen Group shares recently traded near a 52-week high after rising to C$28.44, and the company reported quarterly EPS of C$0.41 on revenue of C$609.3 million.

Mullen Group (TSE:MTL - Get Free Report) had its price objective hoisted by analysts at Scotiabank from C$24.00 to C$29.00 in a research note issued on Friday,BayStreet.CA reports. Scotiabank's target price would suggest a potential upside of 1.97% from the company's current price. Scotiabank also issued estimates for Mullen Group's FY2026 earnings at $1.23 EPS and FY2027 earnings at $1.25 EPS.

Other equities research analysts also recently issued reports about the stock. Canadian Imperial Bank of Commerce upped their price target on shares of Mullen Group from C$20.00 to C$22.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Acumen Capital boosted their target price 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. National Bank Financial boosted their target price on shares of Mullen Group from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Raymond James Financial increased 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, 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. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mullen Group presently has an average rating of "Moderate Buy" and an average price target of C$26.00.

Mullen Group Price Performance

Shares of MTL traded up C$1.64 during midday trading on Friday, reaching C$28.44. The stock had a trading volume of 349,788 shares, compared to its average volume of 283,143. The company has a debt-to-equity ratio of 91.65, a current ratio of 2.07 and a quick ratio of 1.06. The company has a market capitalization 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. The firm's 50 day moving average price is C$22.56 and its 200-day moving average price is C$19.32. Mullen Group has a 52 week low of C$12.98 and a 52 week high of C$28.78.

Mullen Group (TSE:MTL - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share for the quarter. The business had revenue of C$609.30 million during the quarter. Mullen Group had a return on equity of 8.72% and a net margin of 4.32%.

Insider Activity at Mullen Group

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the transaction, the director directly owned 7,562 shares in the company, valued at C$162,583. This trade represents a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently owned by insiders.

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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