Proficient Auto Logistics (NASDAQ:PAL) Price Target Cut to $14.00 by Analysts at Stifel Nicolaus

Proficient Auto Logistics (NASDAQ:PAL) had its price objective cut by investment analysts at Stifel Nicolaus from $15.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 34.23% from the stock’s current price.

PAL has been the topic of a number of other reports. Barrington Research cut their target price on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Raymond James lowered their target price on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th.

Proficient Auto Logistics Trading Up 0.3 %

NASDAQ PAL traded up $0.03 during trading on Thursday, hitting $10.43. 10,637 shares of the company’s stock traded hands, compared to its average volume of 229,348. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day moving average of $9.29 and a 200-day moving average of $13.40. Proficient Auto Logistics has a 12-month low of $7.24 and a 12-month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $89.54 million. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts forecast that Proficient Auto Logistics will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Proficient Auto Logistics news, CEO Richard D. Odell bought 54,000 shares of Proficient Auto Logistics stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $9.20 per share, for a total transaction of $496,800.00. Following the completion of the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Proficient Auto Logistics in the second quarter valued at about $14,446,000. Geode Capital Management LLC lifted its holdings in Proficient Auto Logistics by 136.9% in the third quarter. Geode Capital Management LLC now owns 347,752 shares of the company’s stock valued at $4,932,000 after acquiring an additional 200,977 shares during the period. Ghisallo Capital Management LLC purchased a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth $3,212,000. Sei Investments Co. purchased a new position in shares of Proficient Auto Logistics in the 2nd quarter valued at about $3,084,000. Finally, Lord Abbett & CO. LLC increased its holdings in Proficient Auto Logistics by 40.5% in the third quarter. Lord Abbett & CO. LLC now owns 498,911 shares of the company’s stock valued at $7,075,000 after buying an additional 143,697 shares in the last quarter.

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.