Proficient Auto Logistics (NASDAQ:PAL) Given “Outperform” Rating at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock. Barrington Research’s price objective indicates a potential upside of 28.88% from the company’s current price.

A number of other equities analysts have also issued reports on PAL. William Blair assumed coverage on shares of Proficient Auto Logistics in a research report on Monday, June 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus began coverage on shares of Proficient Auto Logistics in a report on Monday, June 3rd. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Raymond James boosted their target price on Proficient Auto Logistics from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, August 12th.

Proficient Auto Logistics Trading Down 1.3 %

Shares of PAL traded down $0.22 during mid-day trading on Friday, reaching $17.07. 52,246 shares of the company’s stock traded hands, compared to its average volume of 186,176. The firm’s 50-day simple moving average is $18.59. Proficient Auto Logistics has a 12 month low of $14.50 and a 12 month high of $21.01.

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, analysts forecast that Proficient Auto Logistics will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. The acquisition 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 company insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

Several large investors have recently modified their holdings of PAL. Ghisallo Capital Management LLC purchased a new stake in shares of Proficient Auto Logistics during the second quarter valued at $3,212,000. Millennium Management LLC purchased a new stake in Proficient Auto Logistics during the second quarter valued at about $14,446,000. AYAL Capital Advisors Ltd acquired a new position in shares of Proficient Auto Logistics in the second quarter worth about $5,220,000. Marshall Wace LLP purchased a new position in shares of Proficient Auto Logistics in the second quarter worth approximately $1,082,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $5,600,000.

Proficient Auto Logistics Company Profile

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.