National Bank Financial Issues Positive Forecast for Mullen Group (TSE:MTL) Stock Price

Mullen Group (TSE:MTL) had its target price upped by National Bank Financial from C$23.00 to C$31.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

MTL has been the subject of a number of other research reports. Royal Bank Of Canada boosted their price objective on shares of Mullen Group from C$23.00 to C$30.00 in a research note on Friday. Raymond James Financial raised their price target on Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce boosted their price target on Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Desjardins upped their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Acumen Capital increased their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$26.00.

Mullen Group Trading Up 7.2%

Shares of TSE MTL opened at C$28.73 on Friday. Mullen Group has a fifty-two week low of C$12.98 and a fifty-two week high of C$28.78. 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 has a market cap of C$2.76 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.81 and a beta of 1.13. The business’s 50 day moving average price is C$22.70 and its 200-day moving average price is C$19.38.

Mullen Group (TSE:MTL) last posted its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. The company had revenue of C$609.30 million during the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.

Mullen Group Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 2.9%. Mullen Group’s payout ratio is presently 82.35%.

Insider Buying and Selling at Mullen Group

In related news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction on 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. The trade was a 31.64% decrease in their position. 6.32% of the stock is currently owned by company insiders.

Mullen Group News Roundup

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.