Proficient Auto Logistics’ (PAL) “Outperform” Rating Reaffirmed at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating reissued by research analysts at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock. Barrington Research’s price objective would suggest a potential upside of 39.73% from the stock’s current price.

Separately, Stifel Nicolaus lifted their target price on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Proficient Auto Logistics Stock Performance

Shares of PAL traded down $1.85 during mid-day trading on Tuesday, reaching $8.59. The company had a trading volume of 606,176 shares, compared to its average volume of 230,230. The stock has a 50 day moving average of $9.93 and a two-hundred day moving average of $8.13. The stock has a market capitalization of $239.00 million, a P/E ratio of -428.50, a PEG ratio of 2.10 and a beta of 2.17. Proficient Auto Logistics has a 52-week low of $5.76 and a 52-week high of $11.37. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling

In related news, Director John Skiadas sold 18,270 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $7.27, for a total transaction of $132,822.90. Following the completion of the transaction, the director owned 1,852,597 shares of the company’s stock, valued at approximately $13,468,380.19. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 75,000 shares of company stock valued at $548,429. 13.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets boosted its position in shares of Proficient Auto Logistics by 77.7% during the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after purchasing an additional 1,975 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Proficient Auto Logistics in the first quarter valued at about $73,000. Alliancebernstein L.P. increased its stake in Proficient Auto Logistics by 15.0% during the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after purchasing an additional 1,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Proficient Auto Logistics by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after acquiring an additional 3,866 shares during the period.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.