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

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Barrington Research in a report issued on Friday, Benzinga reports. They presently have a $22.00 target price on the stock. Barrington Research’s price objective indicates a potential upside of 28.88% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Raymond James lifted their price target on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Stifel Nicolaus initiated coverage on Proficient Auto Logistics in a research report on Monday, June 3rd. They set a “buy” rating and a $19.00 target price on the stock. Finally, William Blair started coverage on Proficient Auto Logistics in a research note on Monday, June 3rd. They issued an “outperform” rating on the stock.

Proficient Auto Logistics Price Performance

Shares of PAL traded down $0.22 during midday trading on Friday, reaching $17.07. 52,246 shares of the company were exchanged, compared to its average volume of 186,176. Proficient Auto Logistics has a 1-year low of $14.50 and a 1-year high of $21.01. The company’s 50-day moving average is $18.59.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The company had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. The business’s revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Proficient Auto Logistics will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James B. Gattoni acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $379,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PAL. XTX Topco Ltd bought a new position in Proficient Auto Logistics in the second quarter worth about $176,000. Federated Hermes Inc. acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $257,000. Blair William & Co. IL acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $660,000. Marshall Wace LLP bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth approximately $1,082,000. Finally, Emerald Advisers LLC acquired a new position in Proficient Auto Logistics during the 2nd quarter valued at approximately $1,172,000.

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.