Stifel Nicolaus Trims Proficient Auto Logistics (NASDAQ:PAL) Target Price to $18.00

Proficient Auto Logistics (NASDAQ:PAL) had its price objective cut by Stifel Nicolaus from $21.00 to $18.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Barrington Research restated an “outperform” rating and issued a $22.00 price target on shares of Proficient Auto Logistics in a research note on Friday, September 20th. Raymond James dropped their price target on shares of 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 Stock Performance

Shares of NASDAQ:PAL opened at $9.43 on Thursday. The company has a 50 day moving average price of $16.59. Proficient Auto Logistics has a 52 week low of $9.42 and a 52 week high of $21.01. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

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

Insider Activity

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

A number of large investors have recently added to or reduced their stakes in PAL. SG Americas Securities LLC acquired a new position in Proficient Auto Logistics in the 3rd quarter worth approximately $104,000. XTX Topco Ltd acquired a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $176,000. Federated Hermes Inc. acquired a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $257,000. Blair William & Co. IL acquired a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $660,000. Finally, Marshall Wace LLP acquired a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $1,082,000.

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.