Barrington Research Lowers Proficient Auto Logistics (NASDAQ:PAL) Price Target to $17.00

Proficient Auto Logistics (NASDAQ:PAL) had its target price reduced by analysts at Barrington Research from $22.00 to $17.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 69.83% from the company’s current price.

Several other equities research analysts have also issued reports on PAL. Raymond James lowered their price target on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday. Stifel Nicolaus lowered their target price on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday.

Proficient Auto Logistics Trading Down 28.2 %

Shares of NASDAQ PAL traded down $3.93 during mid-day trading on Thursday, reaching $10.01. 2,747,411 shares of the company’s stock were exchanged, compared to its average volume of 245,025. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.36 and a quick ratio of 1.36. The firm’s fifty day moving average is $16.96. Proficient Auto Logistics has a twelve month low of $9.97 and a twelve month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The company’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Proficient Auto Logistics will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAL. SG Americas Securities LLC bought a new stake in shares of Proficient Auto Logistics during the third quarter worth approximately $104,000. XTX Topco Ltd acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at $176,000. Federated Hermes Inc. acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at $257,000. Blair William & Co. IL bought a new position in Proficient Auto Logistics during the second quarter worth about $660,000. Finally, Marshall Wace LLP bought a new position in shares of Proficient Auto Logistics during the second quarter worth 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.