Stifel Nicolaus Lowers Proficient Auto Logistics (NASDAQ:PAL) Price Target to $14.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target reduced by Stifel Nicolaus from $15.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 35.79% from the company’s current price.

PAL has been the topic of a number of other research reports. Raymond James dropped their target price on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Barrington Research lowered their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th.

Proficient Auto Logistics Price Performance

NASDAQ:PAL opened at $10.31 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. Proficient Auto Logistics has a 12-month low of $7.24 and a 12-month high of $21.01. The stock’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $13.38.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. Proficient Auto Logistics’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities analysts predict that Proficient Auto Logistics will post 0.4 EPS for the current fiscal year.

Insider Activity at Proficient Auto Logistics

In related news, CEO Richard D. Odell purchased 54,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the purchase, the chief executive officer now directly owns 753,802 shares in the company, valued at $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Proficient Auto Logistics

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Proficient Auto Logistics during the third quarter worth about $104,000. MetLife Investment Management LLC bought a new position in Proficient Auto Logistics during the 3rd quarter worth approximately $129,000. Verition Fund Management LLC bought a new stake in shares of Proficient Auto Logistics in the 3rd quarter valued at $152,000. XTX Topco Ltd acquired a new stake in shares of Proficient Auto Logistics during the second quarter worth $176,000. Finally, Nicholas Hoffman & Company LLC. bought a new position in Proficient Auto Logistics during the third quarter worth $177,000.

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.