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

Key Points

• Analysts collectively rate Proficient Auto Logistics “Hold.” Among five covering firms, two recommend buying, two recommend holding, and one recommends selling; the average 12-month price target is $10.00.
• PAL shares opened at $6.84, with a market capitalization of about $190 million. The stock has traded between $4.85 and $10.97 over the past year and remains below its 200-day moving average.
• CEO Richard D. Odell sold 33,743 shares for about $171,000 to cover tax withholding tied to vested equity awards, while institutional investors including BNP Paribas and Mirae Asset increased their positions.

Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.00.

Several research firms recently commented on PAL. Wall Street Zen downgraded Proficient Auto Logistics from a "hold" rating to a "sell" rating in a report on Sunday. Barrington Research set a $10.00 target price on shares of Proficient Auto Logistics in a report on Monday, May 11th. Weiss Ratings upgraded shares of Proficient Auto Logistics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 21st. Finally, Zacks Research raised shares of Proficient Auto Logistics from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th.

Insiders Place Their Bets

In related news, CEO Richard D. Odell sold 33,743 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total value of $171,414.44. Following the transaction, the chief executive officer directly owned 964,099 shares of the company's stock, valued at approximately $4,897,622.92. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 14.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in shares of Proficient Auto Logistics by 77.7% in the 3rd 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 in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Proficient Auto Logistics during the first quarter worth $73,000. Odyssean LLC purchased a new stake in shares of Proficient Auto Logistics during the 4th quarter valued at $98,000. Invesco Ltd. purchased a new stake in shares of Proficient Auto Logistics during the 4th quarter valued at $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Proficient Auto Logistics by 44.7% in the 1st 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.

Proficient Auto Logistics Stock Up 1.6%

PAL stock opened at $6.84 on Friday. The stock has a market capitalization of $189.95 million, a P/E ratio of -5.14 and a beta of 1.27. 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 1-year low of $4.85 and a 1-year high of $10.97. The business has a fifty day moving average price of $6.88 and a 200-day moving average price of $7.26.

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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