Proficient Auto Logistics (NASDAQ:PAL) PT Lowered to $17.00

Proficient Auto Logistics (NASDAQ:PAL) had its price objective lowered by Barrington Research from $22.00 to $17.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

PAL has been the topic of several other reports. Raymond James dropped their price objective on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus dropped their price objective on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday.

Proficient Auto Logistics Stock Down 5.0 %

NASDAQ PAL opened at $9.43 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36. The stock’s fifty day moving average price is $16.59. Proficient Auto Logistics has a 1 year low of $9.42 and a 1 year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. The firm had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Proficient Auto Logistics will post 0.83 earnings per share for the current year.

Insider Activity

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Proficient Auto Logistics in the third quarter valued at about $104,000. XTX Topco Ltd acquired a new stake in Proficient Auto Logistics during the second quarter worth about $176,000. Federated Hermes Inc. acquired a new stake in Proficient Auto Logistics during the second quarter worth about $257,000. Blair William & Co. IL acquired a new stake in Proficient Auto Logistics during the second quarter worth about $660,000. Finally, Marshall Wace LLP acquired a new stake in Proficient Auto Logistics during the second quarter worth about $1,082,000.

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.