Proficient Auto Logistics (NASDAQ:PAL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Proficient Auto Logistics (NASDAQ:PAL) issued its quarterly earnings results on Friday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01, Briefing.com reports. The business had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $89.54 million. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year.

Proficient Auto Logistics Stock Down 3.9 %

NASDAQ:PAL traded down $0.39 during midday trading on Monday, hitting $9.61. The stock had a trading volume of 393,621 shares, compared to its average volume of 269,226. Proficient Auto Logistics has a one year low of $8.06 and a one year high of $21.01. The company’s 50-day simple moving average is $13.44. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PAL shares. Raymond James reduced their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Barrington Research reduced their price target on Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, October 17th.

Insider Buying and Selling

In related news, Director James B. Gattoni bought 20,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 20,000 shares of the company’s stock, valued at $379,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

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.