Proficient Auto Logistics (NASDAQ:PAL) Upgraded to Hold at Zacks Research

Proficient Auto Logistics (NASDAQ:PAL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stifel Nicolaus raised their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Barrington Research set a $12.00 price target on shares of Proficient Auto Logistics in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Proficient Auto Logistics Price Performance

NASDAQ:PAL opened at $5.04 on Tuesday. Proficient Auto Logistics has a 52 week low of $4.85 and a 52 week high of $10.97. The firm has a market cap of $141.37 million, a price-to-earnings ratio of -3.57 and a beta of 1.15. The firm’s 50-day simple moving average is $6.21 and its 200 day simple moving average is $6.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.18 and a current ratio of 1.18.

Insider Buying and Selling

In related news, Director Rohit Lal purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $5.43 per share, with a total value of $217,200.00. Following the completion of the purchase, the director directly owned 61,903 shares in the company, valued at $336,133.29. This trade represents a 182.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 54,995 shares of company stock valued at $300,222 over the last three months. 14.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

Large investors have recently bought and sold shares of the company. Boston Partners increased its holdings in Proficient Auto Logistics by 6.9% in the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock valued at $15,763,000 after buying an additional 147,101 shares during the period. BlackRock Inc. bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $11,013,000. Vanguard Group Inc. lifted its holdings in shares of Proficient Auto Logistics by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock worth $7,824,000 after acquiring an additional 83,148 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth approximately $7,322,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Proficient Auto Logistics by 7.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock worth $8,737,000 after acquiring an additional 62,846 shares in the last quarter.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.