Proficient Auto Logistics (NASDAQ:PAL) Stock Rating Lowered by Zacks Research

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. Stifel Nicolaus lowered their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Proficient Auto Logistics in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Proficient Auto Logistics currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Proficient Auto Logistics Trading Down 18.9%

PAL stock opened at $5.95 on Thursday. The company has a market cap of $164.99 million, a P/E ratio of -4.47, a PEG ratio of 3.37 and a beta of 1.90. Proficient Auto Logistics has a twelve month low of $5.76 and a twelve month high of $10.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $6.85 and a 200-day moving average of $8.06.

Insider Buying and Selling at Proficient Auto Logistics

In related news, Director Rohit Lal purchased 10,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were bought at an average price of $6.38 per share, with a total value of $63,800.00. Following the purchase, the director directly owned 20,000 shares in the company, valued at $127,600. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners boosted its holdings in Proficient Auto Logistics by 6.9% during the third quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after buying an additional 147,101 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Proficient Auto Logistics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock valued at $7,824,000 after acquiring an additional 83,148 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Proficient Auto Logistics by 7.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock valued at $8,737,000 after acquiring an additional 62,846 shares during the period. Millennium Management LLC raised its position in shares of Proficient Auto Logistics by 5.9% in the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock valued at $5,309,000 after acquiring an additional 35,335 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Proficient Auto Logistics by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 626,442 shares of the company’s stock worth $4,316,000 after acquiring an additional 26,833 shares during the last quarter.

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.