Barrington Research Reaffirms Outperform Rating for Proficient Auto Logistics (NASDAQ:PAL)

Key Points

• Barrington Research has reaffirmed an **"outperform" rating** for Proficient Auto Logistics (NASDAQ:PAL) with a **target price of $12.00**, indicating a potential upside of **63.38%** from its current stock price.
• The company's stock experienced a significant **23% increase** on Tuesday, trading at **$7.35** with a trading volume notably higher than its average.
• CEO Richard D. Odell sold **49,300 shares** of the company’s stock recently, reducing his ownership by **5.57%**, while company insiders collectively own **13.90%** of the shares.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Barrington Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 target price on the stock. Barrington Research's price target points to a potential upside of 63.38% from the company's current price.

Separately, Stifel Nicolaus set a $13.00 price objective on Proficient Auto Logistics in a research note on Tuesday.

Proficient Auto Logistics Stock Up 23.0%

PAL traded up $1.38 on Tuesday, hitting $7.35. The company had a trading volume of 528,719 shares, compared to its average volume of 256,259. Proficient Auto Logistics has a 12-month low of $5.88 and a 12-month high of $20.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a fifty day moving average price of $7.20 and a 200-day moving average price of $8.36.

Insider Activity at Proficient Auto Logistics

In related news, CEO Richard D. Odell sold 49,300 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.24, for a total value of $406,232.00. Following the completion of the transaction, the chief executive officer directly owned 836,172 shares in the company, valued at approximately $6,890,057.28. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.90% of the company's stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in shares of Proficient Auto Logistics in the 4th quarter worth about $96,000. Bank of New York Mellon Corp lifted its stake in shares of Proficient Auto Logistics by 27.5% during the first quarter. Bank of New York Mellon Corp now owns 42,945 shares of the company's stock worth $359,000 after buying an additional 9,261 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Proficient Auto Logistics by 136.9% during the fourth quarter. BNP Paribas Financial Markets now owns 49,047 shares of the company's stock worth $396,000 after buying an additional 28,342 shares during the period. Northern Trust Corp raised its holdings in shares of Proficient Auto Logistics by 4.8% during the fourth quarter. Northern Trust Corp now owns 127,956 shares of the company's stock worth $1,033,000 after purchasing an additional 5,850 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Proficient Auto Logistics by 15.3% in the fourth quarter. Barclays PLC now owns 25,324 shares of the company's stock worth $204,000 after buying an additional 3,365 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.

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