Barrington Research Lowers Proficient Auto Logistics (NASDAQ:PAL) Price Target to $15.00

Proficient Auto Logistics (NASDAQ:PAL) had its target price cut by Barrington Research from $17.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently commented on PAL. Raymond James dropped their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Stifel Nicolaus dropped their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 17th.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $9.54 on Tuesday. Proficient Auto Logistics has a 1 year low of $8.06 and a 1 year high of $21.01. The firm’s 50 day moving average price is $12.53. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

Proficient Auto Logistics (NASDAQ:PAL) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $89.54 million. Proficient Auto Logistics’s revenue was down 12.5% on a year-over-year basis. Sell-side analysts predict that Proficient Auto Logistics will post 0.51 earnings per share for the current year.

Insider Transactions at Proficient Auto Logistics

In related news, CEO Richard D. Odell bought 54,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. This represents a 7.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Gattoni bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at approximately $379,600. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Proficient Auto Logistics by 136.9% during the third quarter. Geode Capital Management LLC now owns 347,752 shares of the company’s stock worth $4,932,000 after acquiring an additional 200,977 shares during the last quarter. Barclays PLC acquired a new stake in Proficient Auto Logistics during the 3rd quarter valued at approximately $311,000. Y Intercept Hong Kong Ltd purchased a new stake in Proficient Auto Logistics during the 3rd quarter worth approximately $242,000. State Street Corp raised its position in shares of Proficient Auto Logistics by 199.0% in the 3rd quarter. State Street Corp now owns 157,551 shares of the company’s stock valued at $2,234,000 after purchasing an additional 104,851 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Proficient Auto Logistics during the 3rd quarter valued at approximately $152,000.

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.