Barrington Research Lowers Proficient Auto Logistics (NASDAQ:PAL) Price Target to $15.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target decreased by research analysts at Barrington Research from $17.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 61.46% from the company’s previous close.

Other research analysts have also issued reports about the stock. Stifel Nicolaus dropped their price objective on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Raymond James dropped their target price 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 Down 3.3 %

NASDAQ:PAL traded down $0.32 during mid-day trading on Tuesday, hitting $9.29. 60,158 shares of the company’s stock were exchanged, compared to its average volume of 267,589. The stock’s 50 day moving average is $13.25. Proficient Auto Logistics has a fifty-two week low of $8.06 and a fifty-two week high of $21.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.36 and a quick ratio of 1.36.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $89.54 million. The company’s revenue was down 12.5% compared to the same quarter last year. On average, research analysts anticipate that Proficient Auto Logistics will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $18.98 per share, with a total value of $379,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $379,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Proficient Auto Logistics by 53.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,733 shares of the company’s stock valued at $1,896,000 after buying an additional 46,312 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Proficient Auto Logistics in the 3rd quarter worth $1,383,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Proficient Auto Logistics in the third quarter worth about $1,362,000. Nicholas Hoffman & Company LLC. purchased a new stake in Proficient Auto Logistics in the 3rd quarter worth approximately $177,000. Finally, Wedge Capital Management L L P NC bought a new position in shares of Proficient Auto Logistics during the third quarter valued at approximately $1,691,000.

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.