Stifel Nicolaus Cuts Proficient Auto Logistics (NASDAQ:PAL) Price Target to $18.00

Proficient Auto Logistics (NASDAQ:PAL) had its target price trimmed by Stifel Nicolaus from $21.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently commented on PAL. Raymond James lowered their target price on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Barrington Research reiterated an “outperform” rating and set a $22.00 price objective on shares of Proficient Auto Logistics in a research note on Friday, September 20th.

Proficient Auto Logistics Trading Down 5.0 %

Shares of NASDAQ PAL opened at $9.43 on Thursday. Proficient Auto Logistics has a 12-month low of $9.42 and a 12-month high of $21.01. The business’s 50 day simple moving average is $16.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.36 and a quick ratio of 1.36.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to analyst estimates of $101.69 million. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Proficient Auto Logistics will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni acquired 20,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, with a total value of $379,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $379,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

Large investors have recently modified their holdings of the stock. American Century Companies Inc. acquired a new stake in shares of Proficient Auto Logistics during the second quarter worth $20,687,000. Millennium Management LLC purchased a new stake in Proficient Auto Logistics during the second quarter valued at about $14,446,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Proficient Auto Logistics in the second quarter worth about $12,077,000. Hood River Capital Management LLC purchased a new position in shares of Proficient Auto Logistics in the second quarter worth approximately $5,600,000. Finally, AYAL Capital Advisors Ltd acquired a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $5,220,000.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.