Proficient Auto Logistics (NASDAQ:PAL) Upgraded to Hold at Wall Street Zen

Key Points

• Proficient Auto Logistics was upgraded by Wall Street Zen from “sell” to “hold”, adding to a mixed but generally cautious analyst outlook. The stock’s consensus rating remains Hold with an average price target of $10.00.
• The shares were down 1.6% and traded at $6.84, giving the company a market cap of about $189.95 million. The stock has ranged from $4.85 to $10.97 over the past 52 weeks.
• CEO Richard D. Odell sold 27,191 shares in May to cover tax obligations, while several institutional investors increased or initiated positions. Insiders still own 14.20% of the company.

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

Several other analysts also recently commented on the stock. Barrington Research set a $10.00 target price on shares of Proficient Auto Logistics in a research 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 report on Tuesday. Finally, Zacks Research raised shares of Proficient Auto Logistics from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $10.00.

Proficient Auto Logistics Stock Down 1.6%

Shares of Proficient Auto Logistics stock opened at $6.84 on Friday. The firm has a market cap of $189.95 million, a price-to-earnings ratio of -5.14 and a beta of 1.27. The stock has a 50-day simple moving average of $6.69 and a 200-day simple moving average of $7.37. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06.

Insider Buying and Selling at Proficient Auto Logistics

In related 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 transaction of $136,770.73. Following the completion of the sale, the chief executive officer directly owned 936,908 shares of the company's stock, valued at approximately $4,712,647.24. This represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Proficient Auto Logistics by 2.9% during the first quarter. Bank of America Corp DE now owns 324,242 shares of the company's stock valued at $2,198,000 after acquiring an additional 9,106 shares during the period. Empowered Funds LLC increased its stake in shares of Proficient Auto Logistics by 1,237.9% in the first quarter. Empowered Funds LLC now owns 219,169 shares of the company's stock worth $1,486,000 after purchasing an additional 202,788 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Proficient Auto Logistics during the 1st quarter worth about $212,000. Liberty Square Wealth Partners LLC acquired a new position in shares of Proficient Auto Logistics during the 1st quarter worth about $422,000. Finally, Fifth Third Bancorp bought a new stake in Proficient Auto Logistics during the 1st quarter valued at approximately $167,000.

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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