Proficient Auto Logistics (NASDAQ:PAL) Price Target Cut to $19.00

Proficient Auto Logistics (NASDAQ:PAL) had its price objective reduced by investment analysts at Raymond James from $21.00 to $19.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 42.22% from the stock’s previous close.

PAL has been the topic of several other research reports. Stifel Nicolaus dropped their price objective on shares of Proficient Auto Logistics from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of Proficient Auto Logistics in a research note on Friday, September 20th.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock opened at $13.36 on Monday. Proficient Auto Logistics has a one year low of $12.79 and a one year high of $21.01. The stock’s fifty day simple moving average is $17.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.20 by $0.08. The company had revenue of $106.61 million for the quarter, compared to analyst estimates of $101.69 million. The company’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Proficient Auto Logistics will post 0.83 EPS for the current year.

Insider Activity at Proficient Auto Logistics

In other news, Director James B. Gattoni purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $18.98 per share, with a total value 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 $379,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust acquired a new stake in Proficient Auto Logistics in the second quarter worth $12,077,000. Emerald Advisers LLC bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at $1,172,000. American Century Companies Inc. acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth $20,687,000. Federated Hermes Inc. acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth $257,000. Finally, Blair William & Co. IL bought a new position in Proficient Auto Logistics during the second quarter worth about $660,000.

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.