Barrington Research Reiterates Outperform Rating for Proficient Auto Logistics (NASDAQ:PAL)

Barrington Research reiterated their outperform rating on shares of Proficient Auto Logistics (NASDAQ:PAL) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

A number of other brokerages also recently commented on PAL. Stifel Nicolaus dropped their target price on shares of Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Raymond James dropped 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.

Proficient Auto Logistics Price Performance

Shares of PAL stock opened at $8.70 on Monday. The stock has a 50 day moving average price of $9.32 and a 200 day moving average price of $12.87. Proficient Auto Logistics has a 52-week low of $7.24 and a 52-week high of $21.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $89.54 million. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, research analysts forecast that Proficient Auto Logistics will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In related news, CEO Richard D. Odell purchased 54,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $9.20 per share, for a total transaction of $496,800.00. Following the acquisition, the chief executive officer now owns 753,802 shares of the company’s stock, valued at $6,934,978.40. The trade was a 7.72 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Proficient Auto Logistics by 10.8% in the fourth quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company’s stock worth $272,000 after purchasing an additional 3,287 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of Proficient Auto Logistics by 20.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock worth $121,000 after buying an additional 2,500 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Proficient Auto Logistics by 7.9% during the 4th quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock worth $137,000 after acquiring an additional 1,238 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Proficient Auto Logistics by 159,197.1% during the third quarter. JPMorgan Chase & Co. now owns 55,754 shares of the company’s stock valued at $791,000 after acquiring an additional 55,719 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Proficient Auto Logistics by 40.5% in the third quarter. Lord Abbett & CO. LLC now owns 498,911 shares of the company’s stock valued at $7,075,000 after acquiring an additional 143,697 shares in the last quarter.

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.