Proficient Auto Logistics (NASDAQ:PAL) Stock Rating Cut to “Strong Sell” at Zacks Research

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Several other analysts have also commented on PAL. Barrington Research set a $12.00 price objective on Proficient Auto Logistics in a report on Tuesday, August 11th. Wall Street Zen raised Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stifel Nicolaus lowered their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, Weiss Ratings downgraded shares of Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Proficient Auto Logistics Stock Down 1.1%

Proficient Auto Logistics stock opened at $3.51 on Monday. The business’s fifty day moving average is $4.78 and its 200 day moving average is $6.03. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics has a one year low of $3.26 and a one year high of $10.97.

Insider Activity

In related news, Director Rohit Lal bought 10,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $5.53 per share, with a total value of $55,300.00. Following the transaction, the director owned 71,903 shares in the company, valued at $397,623.59. This trade represents a 16.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders purchased 60,995 shares of company stock valued at $324,282. 14.20% of the stock is owned by company insiders.

Institutional Trading of Proficient Auto Logistics

Large investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd bought a new stake in shares of Proficient Auto Logistics during the second quarter valued at approximately $49,000. Ieq Capital LLC purchased a new stake in shares of Proficient Auto Logistics during the second quarter valued at about $122,000. Deutsche Bank AG acquired a new stake in Proficient Auto Logistics in the second quarter valued at approximately $144,000. Bank of America Corp DE acquired a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth $145,000. Finally, Fifth Third Bancorp acquired a new position in shares of Proficient Auto Logistics during the first quarter valued at about $167,000.

Proficient Auto Logistics Company Profile

Proficient Auto Logistics, Inc (NASDAQ: PAL) provides vehicle transportation and logistics services in the United States. The company specializes in moving finished vehicles from manufacturers and ports to dealerships, vehicle auctions, rental-car companies and other commercial customers.

Its services include asset-based automobile transportation, logistics coordination and related supply-chain support. Proficient Auto Logistics operates through a network of regional and national auto-transportation businesses, allowing it to serve customers across multiple U.S.