Barrington Research Reaffirms “Outperform” Rating for Proficient Auto Logistics (NASDAQ:PAL)

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a report released on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. Barrington Research’s price target points to a potential upside of 48.88% from the stock’s current price.

Separately, Stifel Nicolaus raised their price objective on Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Proficient Auto Logistics presently has a consensus rating of “Hold” and an average price target of $12.00.

Proficient Auto Logistics Trading Up 3.7%

Shares of PAL stock opened at $8.06 on Tuesday. Proficient Auto Logistics has a fifty-two week low of $5.76 and a fifty-two week high of $11.36. The stock’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $8.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $224.31 million, a PE ratio of -6.61, a P/E/G ratio of 1.56 and a beta of 2.18.

Insider Buying and Selling at Proficient Auto Logistics

In related news, Director John Skiadas sold 18,270 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $7.27, for a total transaction of $132,822.90. Following the sale, the director owned 1,852,597 shares in the company, valued at $13,468,380.19. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 75,000 shares of company stock worth $548,429. Company insiders own 13.90% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $29,000. BNP Paribas Financial Markets lifted its holdings in shares of Proficient Auto Logistics by 77.7% during the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after purchasing an additional 1,975 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Proficient Auto Logistics in the first quarter worth $73,000. Alliancebernstein L.P. increased its holdings in Proficient Auto Logistics by 15.0% in the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after purchasing an additional 1,800 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after purchasing an additional 3,866 shares during the last quarter.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.