Proficient Auto Logistics (NASDAQ:PAL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Proficient Auto Logistics (NASDAQ:PAL) issued its quarterly earnings data on Friday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01, Briefing.com reports. The company had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $89.54 million. Proficient Auto Logistics’s quarterly revenue was down 12.5% on a year-over-year basis.

Proficient Auto Logistics Stock Performance

Shares of PAL traded down $0.39 during mid-day trading on Monday, reaching $9.61. The company had a trading volume of 393,621 shares, compared to its average volume of 269,226. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $13.44. Proficient Auto Logistics has a 52 week low of $8.06 and a 52 week high of $21.01.

Insider Activity at Proficient Auto Logistics

In related news, Director James B. Gattoni purchased 20,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average price of $18.98 per share, with a total value of $379,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $379,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PAL has been the subject of several research analyst reports. Raymond James lowered their price objective on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Stifel Nicolaus decreased their price objective on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Barrington Research dropped their target price on shares of Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th.

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.