Proficient Auto Logistics (NASDAQ:PAL) Price Target Lowered to $15.00 at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL) had its price objective trimmed by Barrington Research from $17.00 to $15.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Proficient Auto Logistics Stock Up 4.3 %

Shares of NASDAQ:PAL opened at $9.54 on Tuesday. The firm’s 50-day simple moving average is $12.53. Proficient Auto Logistics has a fifty-two week low of $8.06 and a fifty-two week high of $21.01. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating 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 firm’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, analysts expect that Proficient Auto Logistics will post 0.51 EPS for the current fiscal year.

Insider Transactions at Proficient Auto Logistics

In related news, Director James B. Gattoni purchased 20,000 shares of Proficient Auto Logistics stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $18.98 per share, with a total value of $379,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $379,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard D. Odell purchased 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the acquisition, the chief executive officer now owns 753,802 shares of the company’s stock, valued at $6,934,978.40. This trade represents a 7.72 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several institutional investors and hedge funds have recently modified their holdings of PAL. SG Americas Securities LLC acquired a new stake in shares of Proficient Auto Logistics during the 3rd quarter valued at about $104,000. MetLife Investment Management LLC bought a new stake in Proficient Auto Logistics in the third quarter worth approximately $129,000. Verition Fund Management LLC acquired a new position in shares of Proficient Auto Logistics during the 3rd quarter worth $152,000. XTX Topco Ltd bought a new position in shares of Proficient Auto Logistics during the 2nd quarter valued at $176,000. Finally, Nicholas Hoffman & Company LLC. bought a new stake in Proficient Auto Logistics in the third quarter worth $177,000.

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.