Proficient Auto Logistics, Inc. (NASDAQ:PAL) Receives $10.00 Average PT from Brokerages

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.00.

A number of research analysts have issued reports on PAL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Proficient Auto Logistics from a “hold” rating to a “sell” rating in a research report on Sunday. Barrington Research set a $10.00 target price on shares of Proficient Auto Logistics in a research report on Monday, May 11th. Finally, Zacks Research lowered shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAL. FNY Investment Advisers LLC boosted its position in shares of Proficient Auto Logistics by 44.6% during the third quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock valued at $39,000 after purchasing an additional 1,789 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Proficient Auto Logistics by 15.0% in the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after purchasing an additional 1,800 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after purchasing an additional 1,975 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Proficient Auto Logistics by 32.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company’s stock worth $151,000 after purchasing an additional 3,810 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Proficient Auto Logistics by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after buying an additional 3,866 shares during the period.

Proficient Auto Logistics Price Performance

Shares of Proficient Auto Logistics stock opened at $6.97 on Wednesday. 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 company has a market cap of $193.56 million, a PE ratio of -5.24 and a beta of 1.27. The business has a 50 day moving average of $6.51 and a 200 day moving average of $7.54. Proficient Auto Logistics has a 52 week low of $4.85 and a 52 week high of $10.97.

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.