Zacks Research Upgrades Proficient Auto Logistics (NASDAQ:PAL) to "Hold"

Key Points

• Zacks Research upgraded Proficient Auto Logistics to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Hold” with an average price target of $12.00.
• PAL shares opened at $5.04, down 4.2%, and remain near their 52-week low of $4.85; the stock has a market capitalization of approximately $141.4 million.
• Insiders have been net buyers, including a director’s purchase of 10,000 shares, while major institutional investors such as BlackRock and Diamond Hill established new positions.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen raised Proficient Auto Logistics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings cut Proficient Auto Logistics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday. Barrington Research set a $12.00 price objective on Proficient Auto Logistics in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus lifted their target price on Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $12.00.

Proficient Auto Logistics Stock Down 4.2%

Proficient Auto Logistics stock opened at $5.04 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.18 and a quick ratio of 1.18. The company's 50-day moving average is $6.21 and its 200-day moving average is $6.52. The firm has a market capitalization of $141.37 million, a PE ratio of -3.57 and a beta of 1.15. Proficient Auto Logistics has a fifty-two week low of $4.85 and a fifty-two week high of $10.97.

Insider Activity at Proficient Auto Logistics

In related news, Director Rohit Lal bought 10,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $5.53 per share, with a total value of $55,300.00. Following the acquisition, the director owned 71,903 shares of the company's stock, valued at approximately $397,623.59. This represents a 16.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 54,995 shares of company stock worth $300,222. Insiders own 14.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PAL. BlackRock Inc. acquired a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $11,013,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Proficient Auto Logistics during the second quarter worth approximately $7,322,000. Royce & Associates LP acquired a new stake in Proficient Auto Logistics during the 4th quarter worth approximately $5,835,000. De Lisle Partners LLP acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth approximately $3,914,000. Finally, Empowered Funds LLC bought a new stake in Proficient Auto Logistics in the 2nd quarter valued at $1,573,000.

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.

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