Proficient Auto Logistics (NASDAQ:PAL) Price Target Lowered to $19.00 at Raymond James

Proficient Auto Logistics (NASDAQ:PAL) had its target price cut by research analysts at Raymond James from $21.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 31.85% from the stock’s current price.

A number of other research analysts also recently issued reports on PAL. Stifel Nicolaus decreased their price target on Proficient Auto Logistics from $22.00 to $21.00 and set a “buy” rating for the company 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 report on Friday, September 20th.

Proficient Auto Logistics Trading Up 4.3 %

Proficient Auto Logistics stock opened at $14.41 on Monday. Proficient Auto Logistics has a fifty-two week low of $12.79 and a fifty-two week high of $21.01. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $17.27.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly 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 business had revenue of $106.61 million for the quarter, compared to analysts’ expectations of $101.69 million. Proficient Auto Logistics’s revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that Proficient Auto Logistics will post 0.83 earnings per share for the current fiscal year.

Insider Transactions at Proficient Auto Logistics

In other news, Director James B. Gattoni bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Proficient Auto Logistics in the third quarter valued at $104,000. XTX Topco Ltd acquired a new position in Proficient Auto Logistics in the second quarter valued at about $176,000. Federated Hermes Inc. purchased a new position in Proficient Auto Logistics during the second quarter worth about $257,000. Blair William & Co. IL purchased a new position in Proficient Auto Logistics during the second quarter worth about $660,000. Finally, Marshall Wace LLP acquired a new stake in shares of Proficient Auto Logistics during the second quarter valued at about $1,082,000.

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.