Proficient Auto Logistics (NASDAQ:PAL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Proficient Auto Logistics (NASDAQ:PAL) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other brokerages also recently weighed in on PAL. Zacks Research raised Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Proficient Auto Logistics Stock Down 1.6%

Shares of NASDAQ:PAL opened at $6.84 on Friday. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $6.69 and its 200 day moving average is $7.37. The stock has a market cap of $189.95 million, a P/E ratio of -5.14 and a beta of 1.27.

Insider Buying and Selling at Proficient Auto Logistics

In other news, CEO Richard D. Odell sold 27,191 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.03, for a total transaction of $136,770.73. Following the transaction, the chief executive officer owned 936,908 shares in the company, valued at $4,712,647.24. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 14.20% of the company’s stock.

Institutional Trading of Proficient Auto Logistics

A number of institutional investors have recently bought and sold shares of PAL. Royce & Associates LP acquired a new position in Proficient Auto Logistics during the 4th quarter valued at approximately $5,835,000. Brightlight Capital Management LP lifted its stake in shares of Proficient Auto Logistics by 23.7% during the fourth quarter. Brightlight Capital Management LP now owns 358,700 shares of the company’s stock worth $3,458,000 after buying an additional 68,623 shares during the period. 4D Advisors LLC acquired a new stake in shares of Proficient Auto Logistics during the fourth quarter worth $1,928,000. BNP Paribas Financial Markets grew 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 valued at $31,000 after buying an additional 1,975 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Proficient Auto Logistics by 2.9% during the first quarter. Bank of America Corp DE now owns 324,242 shares of the company’s stock valued at $2,198,000 after buying an additional 9,106 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.