Proficient Auto Logistics (NASDAQ:PAL) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Proficient Auto Logistics (NASDAQ:PAL) from a hold rating to a sell rating in a research note released on Sunday.

Several other equities research analysts have also issued reports on the stock. Barrington Research set a $10.00 target price on shares of Proficient Auto Logistics in a report on Monday, May 11th. Zacks Research raised shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Two research 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. According to MarketBeat, Proficient Auto Logistics presently has an average rating of “Hold” and a consensus price target of $10.00.

Proficient Auto Logistics Trading Up 4.7%

Shares of NASDAQ PAL opened at $7.13 on Friday. Proficient Auto Logistics has a 1-year low of $4.85 and a 1-year high of $10.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average is $6.95 and its two-hundred day moving average is $7.20. The stock has a market capitalization of $198.00 million, a P/E ratio of -5.36 and a beta of 1.25.

Insiders Place Their Bets

In related news, CEO Richard D. Odell sold 27,191 shares of Proficient Auto Logistics 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 completion of the sale, the chief executive officer owned 936,908 shares in the company, valued at $4,712,647.24. This trade represents a 2.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 14.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake 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 acquiring an additional 9,106 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Proficient Auto Logistics by 1,237.9% in the 1st quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock worth $1,486,000 after buying an additional 202,788 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Proficient Auto Logistics in the 1st quarter worth $212,000. Liberty Square Wealth Partners LLC bought a new position in shares of Proficient Auto Logistics during the 1st quarter worth $422,000. Finally, Fifth Third Bancorp bought a new position in shares of Proficient Auto Logistics during the 1st quarter worth $167,000.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.