Barrington Research Reaffirms “Outperform” Rating for Proficient Auto Logistics (NASDAQ:PAL)

Barrington Research restated their outperform rating on shares of Proficient Auto Logistics (NASDAQ:PAL) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

Several other research analysts also recently commented on the stock. William Blair started coverage on shares of Proficient Auto Logistics in a research note on Monday, June 3rd. They set an outperform rating on the stock. Stifel Nicolaus began coverage on shares of Proficient Auto Logistics in a research report on Monday, June 3rd. They issued a buy rating and a $19.00 target price on the stock. Finally, Raymond James upped their price target on shares of Proficient Auto Logistics from $18.00 to $21.00 and gave the company an outperform rating in a research report on Monday, August 12th.

Proficient Auto Logistics Stock Down 4.9 %

Shares of NASDAQ:PAL opened at $16.44 on Friday. Proficient Auto Logistics has a 52-week low of $14.50 and a 52-week high of $21.01. The stock has a fifty day moving average of $18.57.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.08. The firm had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Proficient Auto Logistics will post 0.84 EPS for the current year.

Insider Transactions at Proficient Auto Logistics

In other news, Director James B. Gattoni purchased 20,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average price of $18.98 per share, with a total value of $379,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $379,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PAL. American Century Companies Inc. bought a new position in Proficient Auto Logistics in the 2nd quarter worth $20,687,000. Millennium Management LLC bought a new position in Proficient Auto Logistics in the second quarter worth about $14,446,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Proficient Auto Logistics in the second quarter worth about $12,077,000. Hood River Capital Management LLC bought a new stake in Proficient Auto Logistics during the 2nd quarter valued at approximately $5,600,000. Finally, AYAL Capital Advisors Ltd purchased a new position in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $5,220,000.

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.