Proficient Auto Logistics (NASDAQ:PAL) Issues Earnings Results

Proficient Auto Logistics (NASDAQ:PAL) released its quarterly earnings results on Friday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01, Briefing.com reports. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $89.54 million. The company’s revenue was down 12.5% compared to the same quarter last year.

Proficient Auto Logistics Price Performance

NASDAQ:PAL traded down $0.39 on Monday, reaching $9.61. 393,621 shares of the company’s stock traded hands, compared to its average volume of 269,226. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $13.44. Proficient Auto Logistics has a 12 month low of $8.06 and a 12 month high of $21.01.

Insider Buying and Selling

In related news, Director James B. Gattoni bought 20,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $379,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PAL. Barrington Research decreased their target price on Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Raymond James decreased their price objective on 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. Finally, Stifel Nicolaus reduced their target price on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th.

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.