Proficient Auto Logistics (NASDAQ:PAL) Given Outperform Rating at Barrington Research

Key Points

• Barrington Research has restated its "outperform" rating for Proficient Auto Logistics (NASDAQ:PAL), with a price target of $12.00, suggesting a potential upside of 75.70% from the previous close.
• Recent trading saw PAL stock increase by 11.2%, reaching $6.83, with signs of significant activity involving institutional investors acquiring new stakes.
• The company has a current consensus rating of "Hold" and an average target price of $12.50 according to MarketBeat.com, despite varying ratings from other research firms.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock. Barrington Research's price target would suggest a potential upside of 75.70% from the company's previous close.

PAL has been the subject of several other research reports. William Blair downgraded Proficient Auto Logistics from an "outperform" rating to a "market perform" rating in a research note on Friday, September 12th. Stifel Nicolaus set a $13.00 price target on Proficient Auto Logistics in a report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Proficient Auto Logistics in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.50.

Proficient Auto Logistics Trading Up 11.2%

PAL stock traded up $0.69 during midday trading on Tuesday, reaching $6.83. 120,924 shares of the company were exchanged, compared to its average volume of 237,862. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $7.14 and a two-hundred day moving average price of $7.42. Proficient Auto Logistics has a one year low of $5.76 and a one year high of $11.37.

Institutional Investors Weigh In On Proficient Auto Logistics

Several large investors have recently made changes to their positions in PAL. FNY Investment Advisers LLC acquired a new position in shares of Proficient Auto Logistics during the second quarter valued at approximately $29,000. Jones Financial Companies Lllp purchased a new stake in Proficient Auto Logistics in the 1st quarter worth approximately $73,000. Corebridge Financial Inc. lifted its position in Proficient Auto Logistics by 33.6% in the 1st quarter. Corebridge Financial Inc. now owns 10,409 shares of the company's stock worth $87,000 after buying an additional 2,619 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock valued at $105,000 after purchasing an additional 3,866 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Proficient Auto Logistics during the 1st quarter valued at $111,000.

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.

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