Proficient Auto Logistics (NASDAQ:PAL) Raised to “Hold” at Zacks Research

Proficient Auto Logistics (NASDAQ:PAL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

PAL has been the subject of a number of other reports. Wall Street Zen upgraded Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings cut Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus raised their price objective on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Proficient Auto Logistics currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Proficient Auto Logistics Stock Performance

Shares of PAL opened at $5.04 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $141.37 million, a P/E ratio of -3.57 and a beta of 1.15. The firm’s fifty day simple moving average is $6.21 and its two-hundred day simple moving average is $6.52. Proficient Auto Logistics has a 12 month low of $4.85 and a 12 month high of $10.97.

Insider Activity at Proficient Auto Logistics

In other news, Director Rohit Lal bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $5.53 per share, with a total value of $55,300.00. Following the transaction, the director directly owned 71,903 shares of the company’s stock, valued at approximately $397,623.59. This represents a 16.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders bought 54,995 shares of company stock valued at $300,222. Company insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners grew its stake in Proficient Auto Logistics by 6.9% in the third quarter. Boston Partners now owns 2,288,113 shares of the company’s stock valued at $15,763,000 after acquiring an additional 147,101 shares during the period. BlackRock Inc. bought a new position in shares of Proficient Auto Logistics in the 2nd quarter worth $11,013,000. Vanguard Group Inc. lifted its holdings in shares of Proficient Auto Logistics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock worth $7,824,000 after purchasing an additional 83,148 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Proficient Auto Logistics in the 2nd quarter valued at $7,322,000. Finally, Diamond Hill Capital Management Inc. grew its position in Proficient Auto Logistics by 7.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock valued at $8,737,000 after purchasing an additional 62,846 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.