Proficient Auto Logistics (NASDAQ:PAL) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Proficient Auto Logistics (NASDAQ:PAL) released its earnings results on Friday. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01, Briefing.com reports. The business had revenue of $91.50 million for the quarter, compared to analyst estimates of $89.54 million. Proficient Auto Logistics’s revenue was down 12.5% compared to the same quarter last year.

Proficient Auto Logistics Trading Down 3.9 %

NASDAQ:PAL traded down $0.39 during trading hours on Monday, reaching $9.61. The company’s stock had a trading volume of 393,621 shares, compared to its average volume of 269,226. Proficient Auto Logistics has a one year low of $8.06 and a one year high of $21.01. The business has a 50-day moving average of $13.44. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

Several research analysts have commented on PAL shares. Stifel Nicolaus decreased their target price on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Raymond James lowered their price objective on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Barrington Research lowered their price target on Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th.

Insiders Place Their Bets

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

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.