Proficient Auto Logistics (NASDAQ:PAL) PT Lowered to $17.00

Proficient Auto Logistics (NASDAQ:PAL) had its target price cut by analysts at Barrington Research from $22.00 to $17.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price objective would suggest a potential upside of 80.28% from the stock’s current price.

A number of other analysts have also issued reports on PAL. Stifel Nicolaus reduced their target price on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Raymond James dropped their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $9.43 on Thursday. The business has a 50-day moving average of $16.59. 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 1-year low of $9.42 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 firm 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 earnings per share for the current year.

Insider Buying and Selling at Proficient Auto Logistics

In related news, Director James B. Gattoni bought 20,000 shares of the firm’s stock in a transaction on 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 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 SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new stake in shares of Proficient Auto Logistics in the 3rd quarter valued at approximately $1,691,000. SG Americas Securities LLC acquired a new stake in Proficient Auto Logistics in the third quarter valued at approximately $104,000. Ghisallo Capital Management LLC bought a new stake in Proficient Auto Logistics in the second quarter worth approximately $3,212,000. Millennium Management LLC acquired a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $14,446,000. Finally, AYAL Capital Advisors Ltd bought a new position in shares of Proficient Auto Logistics during the 2nd quarter valued at $5,220,000.

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.