Proficient Auto Logistics (NASDAQ:PAL) Price Target Raised to $12.00

Proficient Auto Logistics (NASDAQ:PALFree Report) had its price target upped by Stifel Nicolaus from $9.00 to $12.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also recently weighed in on PAL. Wall Street Zen cut Proficient Auto Logistics from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Finally, Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.00.

View Our Latest Analysis on Proficient Auto Logistics

Proficient Auto Logistics Trading Up 2.8%

Shares of PAL opened at $5.48 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics has a 12-month low of $4.85 and a 12-month high of $10.97. The firm has a market capitalization of $152.18 million, a PE ratio of -3.89 and a beta of 1.25. The stock’s fifty day simple moving average is $7.03 and its 200-day simple moving average is $7.02.

Insider Activity at Proficient Auto Logistics

In related news, CEO Richard D. Odell sold 27,191 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.03, for a total transaction of $136,770.73. Following the sale, the chief executive officer owned 936,908 shares of the company’s stock, valued at approximately $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 can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 14.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Proficient Auto Logistics by 77.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after purchasing an additional 1,975 shares during the period. Persistent Asset Partners Ltd acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth approximately $49,000. Jones Financial Companies Lllp acquired a new stake in Proficient Auto Logistics during the 1st quarter worth approximately $73,000. Odyssean LLC bought a new position in Proficient Auto Logistics in the fourth quarter valued at approximately $98,000. Finally, Invesco Ltd. bought a new position in Proficient Auto Logistics in the fourth quarter valued at approximately $101,000.

About Proficient Auto Logistics

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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.

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