Proficient Auto Logistics (NASDAQ:PAL) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Proficient Auto Logistics (NASDAQ:PAL) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus reduced their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Proficient Auto Logistics Trading Down 18.9%

NASDAQ PAL opened at $5.95 on Thursday. The firm has a market capitalization of $164.99 million, a PE ratio of -4.47, a P/E/G ratio of 3.37 and a beta of 1.90. The stock’s 50 day moving average is $6.85 and its 200 day moving average is $8.06. Proficient Auto Logistics has a twelve month low of $5.76 and a twelve month high of $10.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling

In related news, Director Rohit Lal bought 10,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $6.38 per share, with a total value of $63,800.00. Following the completion of the acquisition, the director owned 20,000 shares of the company’s stock, valued at $127,600. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Proficient Auto Logistics by 77.7% during the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after acquiring an additional 1,975 shares during the last quarter. FNY Investment Advisers LLC increased its position in Proficient Auto Logistics by 44.6% during the third quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock valued at $39,000 after acquiring an additional 1,789 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Proficient Auto Logistics during the first quarter valued at $73,000. Alliancebernstein L.P. increased its position in Proficient Auto Logistics by 15.0% during the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Odyssean LLC purchased a new stake in Proficient Auto Logistics during the fourth quarter valued at $98,000.

Proficient Auto Logistics Company Profile

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.