Proficient Auto Logistics (NASDAQ:PAL) Price Target Cut to $15.00 by Analysts at Barrington Research

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

PAL has been the subject of a number of other research reports. Stifel Nicolaus decreased their price target on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Raymond James reduced 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 report on Monday, October 14th.

Proficient Auto Logistics Trading Down 3.3 %

PAL stock traded down $0.32 during midday trading on Tuesday, hitting $9.29. The company’s stock had a trading volume of 60,158 shares, compared to its average volume of 267,589. Proficient Auto Logistics has a 12 month low of $8.06 and a 12 month 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. The business has a 50 day moving average price of $13.25.

Proficient Auto Logistics (NASDAQ:PAL) last posted its earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $89.54 million. Proficient Auto Logistics’s revenue for the quarter was down 12.5% on a year-over-year basis. Research analysts anticipate that Proficient Auto Logistics will post 0.51 EPS for the current fiscal year.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director James B. Gattoni bought 20,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $379,600. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. acquired a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at $20,687,000. Millennium Management LLC bought a new position in Proficient Auto Logistics in the second quarter valued at about $14,446,000. Emerald Mutual Fund Advisers Trust acquired a new position in Proficient Auto Logistics during the second quarter worth about $12,077,000. Hood River Capital Management LLC bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $5,600,000. Finally, AYAL Capital Advisors Ltd acquired a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at approximately $5,220,000.

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.