Mullen Group (TSE:MTL) Given New C$30.00 Price Target at Desjardins

Mullen Group (TSE:MTL) had its price target increased by Desjardins from C$23.00 to C$30.00 in a report released on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the company. 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 report on Tuesday, June 30th. National Bank Financial lifted their price target on shares of Mullen Group from C$23.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday. Acumen Capital raised their price objective 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. Raymond James Financial boosted their target price on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada upped their target price on shares of Mullen Group from C$23.00 to C$30.00 in a research note on Friday. Five equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.00.

Mullen Group Price Performance

MTL stock opened at C$28.73 on Friday. The firm has a market cap of C$2.76 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. 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 has a 1 year low of C$12.98 and a 1 year high of C$28.78. The stock has a 50-day simple moving average of C$22.70 and a 200-day simple moving average of C$19.38.

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

Mullen Group Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were paid a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio (DPR) is currently 82.35%.

Insider Buying and Selling

In related news, Director Stephen H. Lockwood sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total transaction of C$75,250.00. Following the sale, the director owned 7,562 shares of the company’s stock, valued at C$162,583. The trade was a 31.64% decrease in their ownership of the stock. 6.32% of the stock is currently owned by insiders.

Trending Headlines about Mullen Group

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.