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

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

Several other equities research analysts have also weighed in on PAL. Raymond James reduced their target price 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 lowered their target price on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.

Proficient Auto Logistics Trading Up 0.3 %

Shares of NASDAQ:PAL traded up $0.03 during trading on Tuesday, reaching $9.18. 29,008 shares of the company traded hands, compared to its average volume of 267,234. The company has a fifty day simple moving average of $12.70. 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 has a 1-year low of $8.06 and a 1-year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $89.54 million. The firm’s revenue was down 12.5% on a year-over-year basis. On average, equities 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 acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $18.98 per share, with a total value of $379,600.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $379,600. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

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