Proficient Auto Logistics (NASDAQ:PAL) Price Target Lowered to $17.00 at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL) had its target price trimmed by Barrington Research from $22.00 to $17.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

PAL has been the subject of several other research reports. Raymond James cut their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Stifel Nicolaus cut 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 research note on Thursday.

Proficient Auto Logistics Stock Performance

Proficient Auto Logistics stock opened at $9.43 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $16.59. Proficient Auto Logistics has a fifty-two week low of $9.42 and a fifty-two week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to analyst estimates of $101.69 million. Proficient Auto Logistics’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Proficient Auto Logistics will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics 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 transaction, the director now owns 20,000 shares in the company, valued at $379,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock. SG Americas Securities LLC acquired a new position in Proficient Auto Logistics in the third quarter valued at about $104,000. XTX Topco Ltd acquired a new position in shares of Proficient Auto Logistics in the 2nd quarter valued at approximately $176,000. Federated Hermes Inc. bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $257,000. Blair William & Co. IL acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $660,000. Finally, Marshall Wace LLP bought a new position in Proficient Auto Logistics in the second quarter valued at approximately $1,082,000.

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.