Proficient Auto Logistics (NASDAQ:PAL) Price Target Cut to $21.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target reduced by Stifel Nicolaus from $22.00 to $21.00 in a report issued on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also recently issued reports on PAL. Raymond James boosted their price objective on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the company an outperform rating in a research note on Monday, August 12th. William Blair started coverage on shares of Proficient Auto Logistics in a research report on Monday, June 3rd. They set an outperform rating for the company. Finally, Barrington Research reiterated an outperform rating and issued a $22.00 price objective on shares of Proficient Auto Logistics in a report on Friday, September 20th.

Proficient Auto Logistics Price Performance

Shares of Proficient Auto Logistics stock opened at $14.81 on Friday. Proficient Auto Logistics has a 1 year low of $14.50 and a 1 year high of $21.01. The stock’s 50 day moving average is $18.34.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Friday, August 9th. The company reported $0.28 EPS 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. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that Proficient Auto Logistics will post 0.84 EPS for the current fiscal year.

Insider Activity

In related news, Director James B. Gattoni bought 20,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $379,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in Proficient Auto Logistics in the 2nd quarter worth about $176,000. Federated Hermes Inc. bought a new position in Proficient Auto Logistics in the 2nd quarter worth about $257,000. Blair William & Co. IL bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $660,000. Marshall Wace LLP bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $1,082,000. Finally, Emerald Advisers LLC bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $1,172,000.

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.