Proficient Auto Logistics (NASDAQ:PAL) PT Lowered to $17.00 at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) had its price objective reduced by Barrington Research from $22.00 to $17.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's target price would indicate a potential upside of 71.20% from the stock's current price.

A number of other equities analysts have also recently weighed in on PAL. Raymond James lowered their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Monday. Stifel Nicolaus lowered their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating for the company in a report on Thursday.

Proficient Auto Logistics Stock Down 28.8 %

NASDAQ PAL traded down $4.01 during mid-day trading on Thursday, hitting $9.93. The stock had a trading volume of 4,010,765 shares, compared to its average volume of 256,401. The stock's 50 day moving average is $16.96. Proficient Auto Logistics has a twelve month low of $9.58 and a twelve month high of $21.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.08. The company had revenue of $106.61 million during the quarter, compared to analysts' expectations of $101.69 million. The business's quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Proficient Auto Logistics will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of the business's stock in a transaction dated 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 approximately $379,600. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Proficient Auto Logistics during the 3rd quarter worth approximately $104,000. XTX Topco Ltd purchased a new position in Proficient Auto Logistics during the 2nd quarter worth approximately $176,000. Federated Hermes Inc. purchased a new position in Proficient Auto Logistics during the 2nd quarter worth approximately $257,000. Blair William & Co. IL purchased a new position in shares of Proficient Auto Logistics in the 2nd quarter valued at approximately $660,000. Finally, Marshall Wace LLP purchased a new position in shares of Proficient Auto Logistics in the 2nd quarter valued at approximately $1,082,000.

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.