Stifel Nicolaus Cuts Proficient Auto Logistics (NASDAQ:PAL) Price Target to $21.00

Proficient Auto Logistics (NASDAQ:PAL) had its price target lowered by Stifel Nicolaus from $22.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

PAL has been the subject of several other research reports. Barrington Research reissued an outperform rating and issued a $22.00 price objective on shares of Proficient Auto Logistics in a report on Friday, September 20th. Raymond James upped their price target on Proficient Auto Logistics from $18.00 to $21.00 and gave the stock an outperform rating in a report on Monday, August 12th. Finally, William Blair started coverage on Proficient Auto Logistics in a research note on Monday, June 3rd. They set an outperform rating for the company.

Proficient Auto Logistics Price Performance

NASDAQ:PAL opened at $14.81 on Friday. The company’s 50 day moving average price is $18.34. Proficient Auto Logistics has a 52 week low of $14.50 and a 52 week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings results 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 company had revenue of $106.61 million during the quarter, compared to analysts’ expectations of $101.69 million. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Proficient Auto Logistics will post 0.84 EPS for the current fiscal year.

Insider Activity

In related news, Director James B. Gattoni purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $379,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Proficient Auto Logistics during the second quarter worth $176,000. Federated Hermes Inc. acquired a new stake in Proficient Auto Logistics in the second quarter valued at $257,000. Blair William & Co. IL acquired a new stake in Proficient Auto Logistics in the second quarter valued at $660,000. Marshall Wace LLP purchased a new position in shares of Proficient Auto Logistics during the second quarter worth about $1,082,000. Finally, Emerald Advisers LLC purchased a new position in shares of Proficient Auto Logistics during the second quarter worth about $1,172,000.

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.