Stifel Nicolaus Has Lowered Expectations for Proficient Auto Logistics (NASDAQ:PAL) Stock Price

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) had its target price lowered by investment analysts at Stifel Nicolaus from $15.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 35.79% from the stock's current price.

PAL has been the topic of a number of other research reports. Barrington Research reduced their target price on Proficient Auto Logistics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Raymond James decreased their target price on Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th.

Proficient Auto Logistics Trading Up 2.8 %

Shares of PAL traded up $0.28 during midday trading on Thursday, reaching $10.31. 129,939 shares of the stock were exchanged, compared to its average volume of 231,089. The stock's 50 day simple moving average is $9.31 and its 200 day simple moving average is $13.38. Proficient Auto Logistics has a twelve month low of $7.24 and a twelve month high of $21.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $89.54 million. The firm's revenue was down 12.5% compared to the same quarter last year. As a group, equities research analysts predict that Proficient Auto Logistics will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Richard D. Odell bought 54,000 shares of Proficient Auto Logistics stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $9.20 per share, for a total transaction of $496,800.00. Following the purchase, the chief executive officer now directly owns 753,802 shares in the company, valued at approximately $6,934,978.40. This represents a 7.72 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAL. SG Americas Securities LLC purchased a new position in shares of Proficient Auto Logistics during the third quarter valued at approximately $104,000. MetLife Investment Management LLC bought a new position in Proficient Auto Logistics during the 3rd quarter valued at $129,000. Verition Fund Management LLC bought a new stake in shares of Proficient Auto Logistics in the 3rd quarter worth $152,000. XTX Topco Ltd bought a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth $176,000. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in shares of Proficient Auto Logistics in the third quarter valued at about $177,000.

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.