William Blair Issues Negative Forecast for PAL Earnings

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) - Stock analysts at William Blair dropped their Q3 2024 earnings estimates for Proficient Auto Logistics in a note issued to investors on Thursday, October 17th. William Blair analyst R. Merkel now expects that the company will post earnings of $0.08 per share for the quarter, down from their prior forecast of $0.22. The consensus estimate for Proficient Auto Logistics' current full-year earnings is $0.83 per share. William Blair also issued estimates for Proficient Auto Logistics' Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.58 EPS, Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.64 EPS and FY2026 earnings at $0.81 EPS.

PAL has been the subject of a number of other reports. Stifel Nicolaus reduced their price objective on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday. Barrington Research reduced their price target on Proficient Auto Logistics from $22.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Raymond James decreased their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, October 14th.

Proficient Auto Logistics Stock Performance

Shares of NASDAQ PAL traded down $0.53 during midday trading on Monday, hitting $8.90. The company's stock had a trading volume of 488,519 shares, compared to its average volume of 264,215. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. The company's fifty day simple moving average is $16.59. Proficient Auto Logistics has a one year low of $8.87 and a one year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.08. The firm had revenue of $106.61 million during the quarter, compared to the consensus estimate of $101.69 million. The business's quarterly revenue was up 5.8% on a year-over-year basis.

Insider Buying and Selling

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were acquired at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now directly owns 20,000 shares of the company's stock, valued at $379,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC purchased a new position in shares of Proficient Auto Logistics in the 2nd quarter worth about $1,867,000. AYAL Capital Advisors Ltd purchased a new stake in Proficient Auto Logistics in the second quarter worth approximately $5,220,000. Wedge Capital Management L L P NC bought a new position in Proficient Auto Logistics during the third quarter valued at approximately $1,691,000. Emerald Advisers LLC purchased a new position in shares of Proficient Auto Logistics during the second quarter worth approximately $1,172,000. Finally, Millennium Management LLC bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth approximately $14,446,000.

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.