Brokerages Set Proficient Auto Logistics, Inc. (NASDAQ:PAL) PT at $12.00

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $12.00.

Several research firms recently weighed in on PAL. Weiss Ratings upgraded Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th.

Proficient Auto Logistics Price Performance

PAL stock opened at $5.13 on Thursday. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The stock’s fifty day simple moving average is $6.53 and its 200-day simple moving average is $6.68. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $143.90 million, a price-to-earnings ratio of -3.64 and a beta of 1.25.

Insider Transactions at Proficient Auto Logistics

In related news, Director Rohit Lal purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $5.53 per share, with a total value of $55,300.00. Following the completion of the transaction, the director owned 71,903 shares of the company’s stock, valued at approximately $397,623.59. This trade represents a 16.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 54,995 shares of company stock valued at $300,222 in the last ninety days. 14.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds have recently made changes to their positions in PAL. Alliancebernstein L.P. boosted its holdings in Proficient Auto Logistics by 15.0% in the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after acquiring an additional 1,800 shares during the last quarter. BNP Paribas Financial Markets grew its position in Proficient Auto Logistics by 77.7% during the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after acquiring an additional 1,975 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Proficient Auto Logistics by 32.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company’s stock worth $151,000 after acquiring an additional 3,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Proficient Auto Logistics in the 2nd quarter worth about $49,000.

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