Proficient Auto Logistics (NASDAQ:PAL) Price Target Lowered to $18.00 at Stifel Nicolaus

Proficient Auto Logistics (NASDAQ:PAL) had its target price cut by Stifel Nicolaus from $21.00 to $18.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on PAL. Raymond James lowered their target price on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday. Barrington Research restated an “outperform” rating and issued a $22.00 price objective on shares of Proficient Auto Logistics in a research note on Friday, September 20th.

Proficient Auto Logistics Stock Performance

Proficient Auto Logistics stock opened at $9.93 on Thursday. The company has a fifty day simple moving average of $16.77. Proficient Auto Logistics has a 1-year low of $9.58 and a 1-year 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) last posted its earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to analysts’ expectations of $101.69 million. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Proficient Auto Logistics will post 0.83 EPS for the current fiscal year.

Insider Transactions at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $379,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

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