Weiss Ratings Reiterates Sell (E+) Rating for Proficient Auto Logistics (NASDAQ:PAL)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Proficient Auto Logistics (NASDAQ:PAL), indicating continued skepticism about the stock's performance.
• Other analysts have varied opinions, with William Blair downgrading their rating to "market perform", while Barrington Research maintains an "outperform" rating with a $12 price target.
• Proficient Auto Logistics' stock has a current trading price of $6.43, well below its one-year high of $14.47, reflecting a challenging market position.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. William Blair downgraded shares of Proficient Auto Logistics from an "outperform" rating to a "market perform" rating in a research report on Friday, September 12th. Barrington Research restated an "outperform" rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, September 23rd. Finally, Stifel Nicolaus set a $13.00 price objective on shares of Proficient Auto Logistics in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Proficient Auto Logistics has a consensus rating of "Hold" and a consensus target price of $14.67.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $6.43 on Wednesday. Proficient Auto Logistics has a one year low of $5.88 and a one year high of $14.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50 day simple moving average of $7.18 and a two-hundred day simple moving average of $7.59.

Institutional Trading of Proficient Auto Logistics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in shares of Proficient Auto Logistics during the second quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in shares of Proficient Auto Logistics during the first quarter worth $73,000. Corebridge Financial Inc. grew its stake in shares of Proficient Auto Logistics by 33.6% during the first quarter. Corebridge Financial Inc. now owns 10,409 shares of the company's stock worth $87,000 after buying an additional 2,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Proficient Auto Logistics by 44.7% in the first 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 during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Proficient Auto Logistics in the first quarter worth $111,000.

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.

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