Proficient Auto Logistics (NASDAQ:PAL) Rating Lowered to “Sell” at Wall Street Zen

Proficient Auto Logistics (NASDAQ:PAL) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

A number of other equities research analysts also recently issued reports on PAL. Barrington Research set a $10.00 price target on shares of Proficient Auto Logistics in a research note on Monday, May 11th. Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Proficient Auto Logistics currently has a consensus rating of “Hold” and an average price target of $10.00.

Proficient Auto Logistics Price Performance

Shares of Proficient Auto Logistics stock opened at $6.81 on Friday. The stock has a 50 day moving average of $6.91 and a 200 day moving average of $7.22. Proficient Auto Logistics has a 12 month low of $4.85 and a 12 month high of $10.97. The firm has a market cap of $189.11 million, a PE ratio of -5.12 and a beta of 1.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16.

Insiders Place Their Bets

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 27,191 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.03, for a total transaction of $136,770.73. Following the completion of the transaction, 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 sale was disclosed in a filing 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. 14.20% of the stock is owned by company insiders.

Institutional Trading of Proficient Auto Logistics

A number of large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its position in Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after buying an additional 1,800 shares during the period. BNP Paribas Financial Markets increased its holdings in Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after purchasing an additional 1,975 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Proficient Auto Logistics by 32.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company’s stock worth $151,000 after purchasing an additional 3,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Proficient Auto Logistics by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after purchasing an additional 3,866 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in Proficient Auto Logistics during the 1st quarter valued at $73,000.

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.