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

Barrington Research restated their outperform rating on shares of Proficient Auto Logistics (NASDAQ:PAL) in a research report sent to investors on Friday, Benzinga reports. They currently have a $22.00 price target on the stock.

A number of other equities analysts have also weighed in on PAL. William Blair began coverage on Proficient Auto Logistics in a research note on Monday, June 3rd. They set an outperform rating on the stock. 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 price objective on the stock. Finally, Raymond James boosted their target price on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the company an outperform rating in a research report on Monday, August 12th.

Proficient Auto Logistics Price Performance

Shares of Proficient Auto Logistics stock opened at $16.54 on Friday. The firm’s fifty day simple moving average is $18.56. Proficient Auto Logistics has a 1 year low of $14.50 and a 1 year 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 analysts’ consensus estimates 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 business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Proficient Auto Logistics will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James B. Gattoni purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 in the company, valued at $379,600. 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 company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Proficient Auto Logistics in the second quarter valued at about $176,000. Federated Hermes Inc. bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at approximately $257,000. Blair William & Co. IL acquired a new position in Proficient Auto Logistics during the 2nd quarter worth approximately $660,000. Marshall Wace LLP bought a new position in Proficient Auto Logistics in the 2nd quarter valued at approximately $1,082,000. Finally, Emerald Advisers LLC acquired a new stake in Proficient Auto Logistics in the second quarter valued at approximately $1,172,000.

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.