Proficient Auto Logistics (NASDAQ:PAL) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Proficient Auto Logistics from “hold” to “sell,” although the broader analyst consensus remains “Hold” with a $10.00 target price.
• PAL shares opened at $6.84, well below the consensus target, with a market capitalization of approximately $190 million and a 12-month trading range of $4.85 to $10.97.
• CEO Richard D. Odell sold 27,191 shares worth about $136,771 to cover tax withholding obligations; company insiders retain a 14.2% ownership stake, while several institutions recently increased or initiated positions.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

Several other research firms also recently issued reports on PAL. Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a report on Monday, May 11th. Weiss Ratings raised 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 upgraded shares of Proficient Auto Logistics from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $6.84 on Friday. The company has a market capitalization of $189.95 million, a P/E ratio of -5.14 and a beta of 1.27. Proficient Auto Logistics has a twelve month low of $4.85 and a twelve month high of $10.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $6.88 and a 200 day moving average of $7.26.

Insider Buying and Selling

In other news, CEO Richard D. Odell sold 27,191 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.03, for a total value of $136,770.73. Following the sale, the chief executive officer directly owned 936,908 shares of the company's stock, valued at $4,712,647.24. This represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 14.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAL. BNP Paribas Financial Markets boosted its stake in shares of Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company's stock worth $31,000 after acquiring an additional 1,975 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Proficient Auto Logistics in the 1st quarter valued at about $73,000. Alliancebernstein L.P. increased its stake in shares of Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company's stock valued at $95,000 after purchasing an additional 1,800 shares in the last quarter. Odyssean LLC acquired a new position in Proficient Auto Logistics in the 4th quarter worth about $98,000. Finally, Invesco Ltd. acquired a new position in Proficient Auto Logistics in the 4th quarter worth about $101,000.

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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