Proficient Auto Logistics (NASDAQ:PAL) Raised to Hold at Wall Street Zen

Proficient Auto Logistics (NASDAQ:PAL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research firms also recently issued reports on PAL. Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings raised Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Barrington Research set a $10.00 price target on Proficient Auto Logistics in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Proficient Auto Logistics Trading Down 1.6%

Shares of PAL stock opened at $6.84 on Friday. The firm has a market capitalization of $189.95 million, a P/E ratio of -5.14 and a beta of 1.27. Proficient Auto Logistics has a 1 year low of $4.85 and a 1 year high of $10.97. The firm’s fifty day simple moving average is $6.69 and its 200 day simple moving average is $7.37. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16.

Insider Transactions 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 value of $136,770.73. Following the sale, the chief executive officer owned 936,908 shares of the company’s stock, valued at $4,712,647.24. The trade was a 2.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 14.20% of the stock is owned by company insiders.

Institutional Trading of Proficient Auto Logistics

Several institutional investors have recently made changes to their positions in PAL. Bank of America Corp DE increased its stake in Proficient Auto Logistics by 2.9% in the first quarter. Bank of America Corp DE now owns 324,242 shares of the company’s stock valued at $2,198,000 after acquiring an additional 9,106 shares during the period. Empowered Funds LLC raised its position in Proficient Auto Logistics by 1,237.9% in the first quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock worth $1,486,000 after purchasing an additional 202,788 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Proficient Auto Logistics during the first quarter worth about $212,000. Liberty Square Wealth Partners LLC bought a new position in Proficient Auto Logistics during the first quarter worth about $422,000. Finally, Fifth Third Bancorp acquired a new stake in Proficient Auto Logistics during the first quarter valued at approximately $167,000.

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.