Proficient Auto Logistics (NASDAQ:PAL) Earns Outperform Rating from Barrington Research

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

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

Proficient Auto Logistics Stock Performance

PAL stock traded down $1.85 during trading hours on Tuesday, hitting $8.59. 606,176 shares of the stock were exchanged, compared to its average volume of 230,230. The company has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $8.13. The firm has a market capitalization of $239.00 million, a P/E ratio of -428.50, a P/E/G ratio of 2.10 and a beta of 2.17. Proficient Auto Logistics has a 12 month low of $5.76 and a 12 month high of $11.37. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17.

Insiders Place Their Bets

In related news, Director John Skiadas sold 41,100 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $7.34, for a total transaction of $301,674.00. Following the sale, the director owned 1,870,867 shares of the company’s stock, valued at approximately $13,732,163.78. This represents a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 75,000 shares of company stock valued at $548,429 over the last 90 days. 13.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of PAL. FNY Investment Advisers LLC purchased a new position in shares of Proficient Auto Logistics in the second quarter valued at about $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 valued at $31,000 after purchasing an additional 1,975 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Proficient Auto Logistics in the 1st quarter worth about $73,000. Alliancebernstein L.P. increased its stake in shares of Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after acquiring an additional 1,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $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.