Proficient Auto Logistics (NASDAQ:PAL) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Proficient Auto Logistics (NASDAQ:PAL) from a hold rating to a strong sell rating in a research note published on Monday,Zacks reports.

Several other research analysts also recently weighed in on PAL. Stifel Nicolaus cut their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Weiss Ratings cut Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded Proficient Auto Logistics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Barrington Research set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL opened at $3.51 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $6.03. Proficient Auto Logistics has a 1 year low of $3.26 and a 1 year high of $10.97. The company has a market capitalization of $98.46 million, a P/E ratio of -2.49 and a beta of 1.31.

Insider Buying and Selling

In other Proficient Auto Logistics news, Director Rohit Lal acquired 40,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the purchase, the director owned 61,903 shares of the company’s stock, valued at approximately $336,133.29. This represents a 182.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 60,995 shares of company stock valued at $324,282. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Proficient Auto Logistics

Several institutional investors have recently made changes to their positions in PAL. BlackRock Inc. bought a new position in Proficient Auto Logistics in the 2nd quarter worth about $11,013,000. Empowered Funds LLC grew its holdings in Proficient Auto Logistics by 1,237.9% during the 1st quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock valued at $1,486,000 after buying an additional 202,788 shares in the last quarter. VELA Investment Management LLC grew its holdings in Proficient Auto Logistics by 23.8% during the 2nd quarter. VELA Investment Management LLC now owns 510,840 shares of the company’s stock valued at $3,479,000 after buying an additional 98,235 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Proficient Auto Logistics during the 2nd quarter valued at about $7,322,000. Finally, CM Wealth Advisors LLC bought a new stake in shares of Proficient Auto Logistics during the second quarter valued at about $729,000.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc (NASDAQ: PAL) provides vehicle transportation and logistics services in the United States. The company specializes in moving finished vehicles from manufacturers and ports to dealerships, vehicle auctions, rental-car companies and other commercial customers.

Its services include asset-based automobile transportation, logistics coordination and related supply-chain support. Proficient Auto Logistics operates through a network of regional and national auto-transportation businesses, allowing it to serve customers across multiple U.S.