Proficient Auto Logistics (NASDAQ:PAL) Price Target Lowered to $19.00 at Raymond James

Proficient Auto Logistics (NASDAQ:PAL) had its target price decreased by Raymond James from $21.00 to $19.00 in a research report report published on Monday, Benzinga reports. Raymond James currently has an outperform rating on the stock.

PAL has been the subject of several other reports. Barrington Research reaffirmed an outperform rating and set a $22.00 price objective on shares of Proficient Auto Logistics in a research note on Friday, September 20th. Stifel Nicolaus dropped their price objective on shares of Proficient Auto Logistics from $22.00 to $21.00 and set a buy rating for the company in a research note on Friday, September 27th.

Proficient Auto Logistics Price Performance

PAL stock opened at $13.55 on Monday. The firm has a fifty day simple moving average of $17.17. Proficient Auto Logistics has a fifty-two week low of $12.79 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 posted its earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. Proficient Auto Logistics’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Proficient Auto Logistics will post 0.83 earnings per share for the current year.

Insider Transactions at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of large investors have recently added to or reduced their stakes in PAL. SG Americas Securities LLC purchased a new stake in shares of Proficient Auto Logistics during the third quarter worth about $104,000. XTX Topco Ltd purchased a new stake in shares of Proficient Auto Logistics during the second quarter worth about $176,000. Federated Hermes Inc. purchased a new stake in Proficient Auto Logistics in the second quarter valued at approximately $257,000. Blair William & Co. IL purchased a new stake in Proficient Auto Logistics in the second quarter valued at approximately $660,000. Finally, Marshall Wace LLP purchased a new stake in Proficient Auto Logistics in the second quarter valued at approximately $1,082,000.

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.