Proficient Auto Logistics’ (PAL) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Proficient Auto Logistics (NASDAQ:PAL) in a research note issued to investors on Friday, Benzinga reports. Barrington Research currently has a $22.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Raymond James upped their target price on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an outperform rating in a report on Monday, August 12th. Stifel Nicolaus assumed coverage on shares of Proficient Auto Logistics in a research report on Monday, June 3rd. They set a buy rating and a $19.00 price objective for the company. Finally, William Blair assumed coverage on shares of Proficient Auto Logistics in a report on Monday, June 3rd. They issued an outperform rating on the stock.

Proficient Auto Logistics Stock Up 0.6 %

Shares of NASDAQ PAL opened at $16.54 on Friday. The company has a 50 day simple moving average of $18.56. Proficient Auto Logistics has a 52-week low of $14.50 and a 52-week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. The company had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research analysts expect that Proficient Auto Logistics will post 0.84 earnings per share for the current year.

Insider Transactions at Proficient Auto Logistics

In related news, Director James B. Gattoni acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were purchased 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 of the company’s stock, valued at $379,600. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ghisallo Capital Management LLC acquired a new position in Proficient Auto Logistics during the second quarter worth $3,212,000. Millennium Management LLC bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $14,446,000. AYAL Capital Advisors Ltd bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $5,220,000. Marshall Wace LLP bought a new stake in Proficient Auto Logistics during the second quarter worth $1,082,000. Finally, Hood River Capital Management LLC purchased a new stake in Proficient Auto Logistics in the 2nd quarter valued at $5,600,000.

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.