Proficient Auto Logistics (NASDAQ:PAL) Stock Rating Lowered by Zacks Research

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen raised Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Stifel Nicolaus decreased their price objective on shares of Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock opened at $3.51 on Monday. The business’s fifty day moving average is $4.78 and its two-hundred day moving average is $6.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $98.46 million, a P/E ratio of -2.49 and a beta of 1.31. Proficient Auto Logistics has a 52 week low of $3.26 and a 52 week high of $10.97.

Insider Activity at Proficient Auto Logistics

In other news, Director Rohit Lal bought 10,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $5.53 per share, with a total value of $55,300.00. Following the purchase, the director owned 71,903 shares of the company’s stock, valued at approximately $397,623.59. This represents a 16.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders acquired 60,995 shares of company stock valued at $324,282. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several large investors have recently made changes to their positions in PAL. WINTON GROUP Ltd bought a new position in Proficient Auto Logistics in the second quarter valued at about $399,000. Squarepoint Ops LLC bought a new stake in Proficient Auto Logistics during the 2nd quarter worth about $173,000. VELA Investment Management LLC lifted its position in Proficient Auto Logistics by 23.8% during the 2nd quarter. VELA Investment Management LLC now owns 510,840 shares of the company’s stock valued at $3,479,000 after purchasing an additional 98,235 shares during the period. Proficio Capital Partners LLC acquired a new position in Proficient Auto Logistics during the 2nd quarter valued at about $492,000. Finally, Empowered Funds LLC acquired a new position in Proficient Auto Logistics during the 2nd quarter valued at about $1,573,000.

Proficient Auto Logistics Company Profile

Proficient Auto Logistics, Inc (NASDAQ: PAL) provides vehicle transportation and logistics services in the United States. The company specializes in moving finished vehicles from manufacturers and ports to dealerships, vehicle auctions, rental-car companies and other commercial customers.

Its services include asset-based automobile transportation, logistics coordination and related supply-chain support. Proficient Auto Logistics operates through a network of regional and national auto-transportation businesses, allowing it to serve customers across multiple U.S.