Stifel Nicolaus Lowers Proficient Auto Logistics (NASDAQ:PAL) Price Target to $21.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target lowered by equities research analysts at Stifel Nicolaus from $22.00 to $21.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 36.72% from the stock’s previous close.

Several other analysts have also weighed in on the company. Raymond James raised their price objective on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. William Blair assumed coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They issued an “outperform” rating on the stock. Finally, Barrington Research reiterated an “outperform” rating and set a $22.00 price objective on shares of Proficient Auto Logistics in a research report on Friday, September 20th.

Proficient Auto Logistics Stock Down 3.0 %

Shares of Proficient Auto Logistics stock opened at $15.36 on Friday. The stock’s 50 day moving average price is $18.47. Proficient Auto Logistics has a 1-year low of $14.50 and a 1-year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The business’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Proficient Auto Logistics will post 0.84 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James B. Gattoni acquired 20,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

Hedge funds have recently added to or reduced their stakes in the business. Ghisallo Capital Management LLC bought a new position in shares of Proficient Auto Logistics during the second quarter valued at $3,212,000. Millennium Management LLC bought a new position in Proficient Auto Logistics during the 2nd quarter worth $14,446,000. AYAL Capital Advisors Ltd acquired a new position in Proficient Auto Logistics during the 2nd quarter worth about $5,220,000. Marshall Wace LLP bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at about $1,082,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Proficient Auto Logistics in the second quarter valued at about $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.