Barrington Research Reiterates Outperform Rating for Proficient Auto Logistics (NASDAQ:PAL)

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. Barrington Research’s price objective indicates a potential upside of 65.93% from the stock’s previous close.

PAL has been the subject of several other reports. Stifel Nicolaus decreased their price objective on Proficient Auto Logistics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Raymond James decreased their price target on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, October 14th.

Proficient Auto Logistics Trading Down 1.4 %

Shares of Proficient Auto Logistics stock opened at $9.04 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. The company has a fifty day simple moving average of $9.34 and a 200-day simple moving average of $12.94. Proficient Auto Logistics has a 12-month low of $7.24 and a 12-month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings data 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 company had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. The business’s revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts expect that Proficient Auto Logistics will post 0.4 earnings per share for the current year.

Insider Activity at Proficient Auto Logistics

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

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Proficient Auto Logistics in the second quarter valued at approximately $1,082,000. Millennium Management LLC acquired a new stake in Proficient Auto Logistics during the 2nd quarter valued at $14,446,000. SG Americas Securities LLC acquired a new position in shares of Proficient Auto Logistics in the third quarter worth $104,000. Wedge Capital Management L L P NC purchased a new stake in shares of Proficient Auto Logistics in the third quarter valued at $1,691,000. Finally, Nicholas Hoffman & Company LLC. acquired a new stake in shares of Proficient Auto Logistics during the third quarter valued at $177,000.

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.