Raymond James Cuts Proficient Auto Logistics (NASDAQ:PAL) Price Target to $19.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target trimmed by Raymond James from $21.00 to $19.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Proficient Auto Logistics from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $22.00 price target on shares of Proficient Auto Logistics in a report on Friday, September 20th.

Proficient Auto Logistics Price Performance

NASDAQ:PAL opened at $13.94 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36. Proficient Auto Logistics has a one year low of $12.79 and a one year high of $21.01. The business’s 50-day simple moving average is $16.96.

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

Insiders Place Their Bets

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 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 in the company, valued at $379,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new stake in shares of Proficient Auto Logistics during the second quarter worth $1,867,000. AYAL Capital Advisors Ltd purchased a new stake in Proficient Auto Logistics in the 2nd quarter valued at about $5,220,000. Emerald Advisers LLC bought a new position in Proficient Auto Logistics in the 2nd quarter worth about $1,172,000. Millennium Management LLC purchased a new position in shares of Proficient Auto Logistics during the second quarter worth approximately $14,446,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $3,212,000.

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.