Wall Street Zen Downgrades Proficient Auto Logistics (NASDAQ:PAL) to Sell

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently commented on PAL. Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, May 13th. Stifel Nicolaus cut their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Zacks Research cut Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Proficient Auto Logistics Trading Down 0.6%

NASDAQ PAL opened at $8.35 on Friday. Proficient Auto Logistics has a 12 month low of $4.85 and a 12 month high of $10.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $231.88 million, a price-to-earnings ratio of -6.28 and a beta of 1.53. The company’s fifty day moving average price is $6.48 and its two-hundred day moving average price is $7.86.

Insider Buying and Selling at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 27,191 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.03, for a total transaction of $136,770.73. Following the completion of the sale, the chief executive officer owned 936,908 shares in the company, valued at $4,712,647.24. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rohit Lal bought 10,000 shares of the stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $6.38 per share, with a total value of $63,800.00. Following the purchase, the director owned 20,000 shares of the company’s stock, valued at $127,600. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 13,800 shares of company stock valued at $83,370. 14.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after acquiring an additional 1,975 shares during the period. FNY Investment Advisers LLC lifted its stake in Proficient Auto Logistics by 44.6% in the third quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock valued at $39,000 after buying an additional 1,789 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Proficient Auto Logistics in the first quarter valued at $73,000. Odyssean LLC bought a new stake in Proficient Auto Logistics in the fourth quarter valued at $98,000. Finally, Invesco Ltd. bought a new stake in Proficient Auto Logistics in the fourth quarter valued at $101,000.

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