Stifel Nicolaus Cuts Proficient Auto Logistics (NASDAQ:PAL) Price Target to $14.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target cut by Stifel Nicolaus from $15.00 to $14.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

PAL has been the topic of a number of other reports. Barrington Research reduced their target price on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Raymond James reduced their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th.

Proficient Auto Logistics Trading Up 2.8 %

NASDAQ PAL opened at $10.31 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. Proficient Auto Logistics has a 1-year low of $7.24 and a 1-year high of $21.01. The business has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $13.33.

Proficient Auto Logistics (NASDAQ:PAL) last posted its earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $89.54 million. Proficient Auto Logistics’s revenue was down 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Proficient Auto Logistics will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other Proficient Auto Logistics news, CEO Richard D. Odell bought 54,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the purchase, the chief executive officer now owns 753,802 shares in the company, valued at $6,934,978.40. This represents a 7.72 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of large investors have recently bought and sold shares of the business. Blair William & Co. IL bought a new position in Proficient Auto Logistics in the 2nd quarter worth about $660,000. XTX Topco Ltd bought a new position in Proficient Auto Logistics in the second quarter worth approximately $176,000. Sei Investments Co. purchased a new position in Proficient Auto Logistics during the 2nd quarter worth $3,084,000. Marshall Wace LLP bought a new stake in Proficient Auto Logistics during the 2nd quarter valued at $1,082,000. Finally, Millennium Management LLC purchased a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth $14,446,000.

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.