Proficient Auto Logistics, Inc. (NASDAQ:PAL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) have earned an average rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.00.

Several research analysts have issued reports on the company. Wall Street Zen cut Proficient Auto Logistics from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Barrington Research set a $10.00 target price on shares of Proficient Auto Logistics in a research report on Monday, May 11th. 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, Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th.

Insider Buying and Selling

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 27,191 shares of the company’s 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 transaction, the chief executive officer directly owned 936,908 shares in the company, valued at approximately $4,712,647.24. This represents a 2.82% decrease in their ownership of the stock. 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. Corporate insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. grew its holdings in shares of Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after acquiring an additional 1,800 shares during the period. BNP Paribas Financial Markets raised its holdings in Proficient Auto Logistics by 77.7% during 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Proficient Auto Logistics by 32.2% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $105,000 after purchasing an additional 3,866 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in Proficient Auto Logistics in the second quarter valued at $49,000.

Proficient Auto Logistics Stock Up 3.7%

PAL opened at $7.34 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. Proficient Auto Logistics has a 12 month low of $4.85 and a 12 month high of $10.97. The stock has a market capitalization of $203.83 million, a P/E ratio of -5.52 and a beta of 1.25. The business has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $7.16.

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.