Analysts Set Proficient Auto Logistics, Inc. (NASDAQ:PAL) Price Target at $10.00

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) have earned an average rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of research firms have issued reports on PAL. Stifel Nicolaus cut their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, May 13th. Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Proficient Auto Logistics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Barrington Research set a $10.00 price target on Proficient Auto Logistics in a research note on Monday, May 11th.

Insider Activity

In related news, CEO Richard D. Odell sold 33,743 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total transaction of $171,414.44. Following the completion of the transaction, the chief executive officer directly owned 964,099 shares in the company, valued at approximately $4,897,622.92. The trade was a 3.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royce & Associates LP purchased a new position in Proficient Auto Logistics in the 4th quarter worth approximately $5,835,000. Brightlight Capital Management LP bought a new position in shares of Proficient Auto Logistics during the 3rd quarter worth $1,999,000. Empowered Funds LLC grew its position in shares of Proficient Auto Logistics by 1,237.9% during the 1st quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock worth $1,486,000 after buying an additional 202,788 shares in the last quarter. 4D Advisors LLC bought a new stake in Proficient Auto Logistics during the fourth quarter valued at about $1,928,000. Finally, Boston Partners boosted its position in Proficient Auto Logistics by 6.9% during the third quarter. Boston Partners now owns 2,288,113 shares of the company’s stock valued at $15,763,000 after purchasing an additional 147,101 shares in the last quarter.

Proficient Auto Logistics Trading Down 6.0%

Proficient Auto Logistics stock opened at $7.39 on Friday. The business has a 50-day simple moving average of $6.54 and a two-hundred day simple moving average of $7.86. The company has a market cap of $205.22 million, a P/E ratio of -5.56 and a beta of 1.53. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16.

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.