Proficient Auto Logistics (NASDAQ:PAL) Downgraded by Zacks Research to Strong Sell

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also commented on PAL. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a research note on Tuesday, March 3rd. Stifel Nicolaus reduced their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Proficient Auto Logistics presently has an average rating of “Hold” and an average price target of $11.00.

Proficient Auto Logistics Trading Down 18.9%

NASDAQ:PAL opened at $5.95 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $164.99 million, a price-to-earnings ratio of -4.47, a price-to-earnings-growth ratio of 3.37 and a beta of 1.90. Proficient Auto Logistics has a one year low of $5.76 and a one year high of $10.97. The business has a fifty day moving average price of $6.85 and a 200-day moving average price of $8.06.

Insider Transactions at Proficient Auto Logistics

In other news, Director Rohit Lal bought 10,000 shares of Proficient Auto Logistics stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average cost of $6.38 per share, with a total value of $63,800.00. Following the acquisition, the director owned 20,000 shares of the company’s stock, valued at $127,600. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Proficient Auto Logistics

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Proficient Auto Logistics by 77.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after buying an additional 1,975 shares in the last quarter. FNY Investment Advisers LLC increased its stake in Proficient Auto Logistics by 44.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock worth $39,000 after buying an additional 1,789 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Proficient Auto Logistics in the 1st quarter worth $73,000. Odyssean LLC purchased a new stake in Proficient Auto Logistics in the 4th quarter worth $98,000. Finally, Invesco Ltd. purchased a new stake in Proficient Auto Logistics in the 4th quarter worth $101,000.

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