Proficient Auto Logistics’ (PAL) “Outperform” Rating Reaffirmed at Barrington Research

Proficient Auto Logistics (NASDAQ:PAL)‘s stock had its “outperform” rating restated by research analysts at Barrington Research in a research note issued on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock. Barrington Research’s target price indicates a potential upside of 33.82% from the stock’s current price.

A number of other brokerages also recently issued reports on PAL. William Blair assumed coverage on Proficient Auto Logistics in a report on Monday, June 3rd. They set an “outperform” rating on the stock. Raymond James upped their price target on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus assumed coverage on Proficient Auto Logistics in a report on Monday, June 3rd. They issued a “buy” rating and a $19.00 target price on the stock.

Proficient Auto Logistics Stock Performance

NASDAQ PAL opened at $16.44 on Friday. Proficient Auto Logistics has a 12 month low of $14.50 and a 12 month high of $21.01. The business has a fifty day moving average of $18.57.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The business had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Proficient Auto Logistics will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Proficient Auto Logistics

In other news, Director James B. Gattoni bought 20,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $379,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAL. Emerald Mutual Fund Advisers Trust bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $12,077,000. Emerald Advisers LLC bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $1,172,000. American Century Companies Inc. bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $20,687,000. Federated Hermes Inc. bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $257,000. Finally, Blair William & Co. IL bought a new position in shares of Proficient Auto Logistics in the second quarter worth about $660,000.

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.