Stifel Nicolaus Issues Pessimistic Forecast for Proficient Auto Logistics (NASDAQ:PAL) Stock Price

Proficient Auto Logistics (NASDAQ:PAL) had its target price decreased by research analysts at Stifel Nicolaus from $15.00 to $14.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 34.23% from the company’s current price.

Several other analysts have also recently commented on the company. Barrington Research lowered their target price on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Raymond James cut their price objective 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.

Proficient Auto Logistics Stock Up 0.3 %

NASDAQ PAL traded up $0.03 during trading hours on Thursday, hitting $10.43. 10,637 shares of the company’s stock were exchanged, compared to its average volume of 229,348. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. The business’s 50 day moving average is $9.29 and its 200-day moving average is $13.40. Proficient Auto Logistics has a 12-month low of $7.24 and a 12-month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million for the quarter, compared to analyst estimates of $89.54 million. The business’s revenue was down 12.5% compared to the same quarter last year. Sell-side analysts forecast that Proficient Auto Logistics will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard D. Odell bought 54,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $9.20 per share, for a total transaction of $496,800.00. Following the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at $6,934,978.40. This trade represents a 7.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PAL. Millennium Management LLC acquired a new position in shares of Proficient Auto Logistics during the second quarter worth about $14,446,000. De Lisle Partners LLP boosted its position in Proficient Auto Logistics by 23.8% during the 3rd quarter. De Lisle Partners LLP now owns 557,000 shares of the company’s stock worth $7,906,000 after acquiring an additional 107,000 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Proficient Auto Logistics by 40.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 498,911 shares of the company’s stock worth $7,075,000 after acquiring an additional 143,697 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Proficient Auto Logistics by 136.9% in the third quarter. Geode Capital Management LLC now owns 347,752 shares of the company’s stock valued at $4,932,000 after purchasing an additional 200,977 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in Proficient Auto Logistics during the second quarter worth $3,212,000.

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.