Proficient Auto Logistics (NASDAQ:PAL) Shares Up 1.9% - Still a Buy?

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) was up 1.9% during mid-day trading on Wednesday . The company traded as high as $7.69 and last traded at $7.62. Approximately 95,745 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 268,014 shares. The stock had previously closed at $7.48.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their price target on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

Proficient Auto Logistics Stock Performance

The business's fifty day moving average price is $7.55 and its two-hundred day moving average price is $8.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.18.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Proficient Auto Logistics had a negative return on equity of 2.05% and a negative net margin of 3.49%. The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $94.65 million. On average, equities analysts forecast that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In related news, CEO Richard D. Odell sold 49,300 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the transaction, the chief executive officer directly owned 836,172 shares in the company, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several hedge funds have recently added to or reduced their stakes in PAL. American Century Companies Inc. grew its stake in Proficient Auto Logistics by 4.6% in the 1st quarter. American Century Companies Inc. now owns 1,519,614 shares of the company's stock worth $12,719,000 after acquiring an additional 66,186 shares in the last quarter. Boston Partners grew its stake in Proficient Auto Logistics by 1,602.6% in the 1st quarter. Boston Partners now owns 1,447,787 shares of the company's stock worth $12,116,000 after acquiring an additional 1,362,751 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Proficient Auto Logistics by 137.9% in the 1st quarter. Russell Investments Group Ltd. now owns 701,513 shares of the company's stock worth $5,872,000 after acquiring an additional 406,614 shares in the last quarter. Millennium Management LLC grew its stake in Proficient Auto Logistics by 5.9% in the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company's stock worth $5,309,000 after acquiring an additional 35,335 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in Proficient Auto Logistics by 1.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 466,128 shares of the company's stock worth $3,901,000 after acquiring an additional 7,137 shares in 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.