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

Key Points

• Analysts have a consensus “Hold” rating on Proficient Auto Logistics, with two sell ratings, one hold, and two buy ratings. The average 12-month price target is $12.00, compared with the stock’s recent price of $5.38.
• Director Rohit Lal purchased 40,000 shares at an average price of $5.43, while insiders bought nearly 55,000 shares worth about $300,000 over the past three months.
• PAL shares have declined 0.6% and remain near the lower end of their 52-week range of $4.85 to $10.97; the company has a market capitalization of approximately $150.9 million.

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) have been given an average recommendation of "Hold" by the five ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.00.

Several equities research analysts recently weighed in on PAL shares. Weiss Ratings lowered Proficient Auto Logistics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised Proficient Auto Logistics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Barrington Research set a $12.00 target price on shares of Proficient Auto Logistics in a report on Tuesday, August 11th. Zacks Research downgraded shares of Proficient Auto Logistics from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, Stifel Nicolaus raised their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th.

Insider Transactions at Proficient Auto Logistics

In other news, Director Rohit Lal bought 40,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $5.43 per share, with a total value of $217,200.00. Following the completion of the acquisition, the director owned 61,903 shares of the company's stock, valued at approximately $336,133.29. This represents a 182.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 54,995 shares of company stock valued at $300,222 over the last three months. 14.20% of the stock is currently owned by insiders.

Institutional Trading of Proficient Auto Logistics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in shares of Proficient Auto Logistics by 15.0% in the third 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 increased 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 valued at $31,000 after buying an additional 1,975 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Proficient Auto Logistics by 32.2% in the 4th 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Proficient Auto Logistics by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock worth $105,000 after buying an additional 3,866 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in Proficient Auto Logistics during the 2nd quarter worth approximately $49,000.

Proficient Auto Logistics Stock Down 0.6%

PAL stock opened at $5.38 on Thursday. Proficient Auto Logistics has a fifty-two week low of $4.85 and a fifty-two week high of $10.97. The company has a market capitalization of $150.91 million, a price-to-earnings ratio of -3.82 and a beta of 1.25. The business's 50 day moving average price is $6.62 and its two-hundred day moving average price is $6.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.18 and a current ratio of 1.18.

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.

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