Federated Hermes Inc. Acquires New Stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Federated Hermes Inc. bought a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 16,000 shares of the company’s stock, valued at approximately $257,000. Federated Hermes Inc. owned 0.06% of Proficient Auto Logistics at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust acquired a new stake in Proficient Auto Logistics during the second quarter worth approximately $12,077,000. Emerald Advisers LLC acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $1,172,000. Finally, American Century Companies Inc. bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at $20,687,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PAL shares. William Blair began coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They issued an “outperform” rating for the company. Stifel Nicolaus started coverage on Proficient Auto Logistics in a research report on Monday, June 3rd. They issued a “buy” rating and a $19.00 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $22.00 price target on shares of Proficient Auto Logistics in a report on Friday, September 20th. Finally, Raymond James boosted their price objective on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 12th.

Proficient Auto Logistics Stock Performance

Shares of NASDAQ:PAL opened at $16.26 on Wednesday. The firm’s 50 day moving average is $18.52. Proficient Auto Logistics, Inc. has a 12-month low of $14.50 and a 12-month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. The firm had revenue of $106.61 million during the quarter, compared to the consensus estimate of $101.69 million. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts predict that Proficient Auto Logistics, Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average cost of $18.98 per share, with a total value of $379,600.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Proficient Auto Logistics 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.