Key Points
- Director Steven Lux purchased 6,000 PAL shares at an average price of $4.01, investing $24,060 and increasing his holdings by 0.98% to 617,957 shares.
- Proficient Auto Logistics shares opened at $3.86, near their one-year low of $3.60, and have declined below both the 50-day and 200-day moving averages.
- Analysts maintain a consensus “Hold” rating with a $12.00 price target, while several institutional investors recently initiated positions in the company.
Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) Director Steven Lux bought 6,000 shares of the company's stock in a transaction dated Monday, September 21st. The stock was bought at an average cost of $4.01 per share, for a total transaction of $24,060.00. Following the acquisition, the director owned 617,957 shares of the company's stock, valued at approximately $2,478,007.57. This trade represents a 0.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Proficient Auto Logistics Price Performance
Shares of NASDAQ PAL opened at $3.86 on Thursday. 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 stock has a fifty day moving average price of $5.75 and a 200 day moving average price of $6.31. Proficient Auto Logistics, Inc. has a 1-year low of $3.60 and a 1-year high of $10.97. The company has a market cap of $108.27 million, a PE ratio of -2.74 and a beta of 1.15.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on PAL. Wall Street Zen upgraded shares of Proficient Auto Logistics from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Stifel Nicolaus lifted their price objective on Proficient Auto Logistics from $9.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Zacks Research upgraded Proficient Auto Logistics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 8th. Weiss Ratings raised Proficient Auto Logistics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Finally, Barrington Research set a $12.00 price target on Proficient Auto Logistics in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.00.
Check Out Our Latest Analysis on PAL
Hedge Funds Weigh In On Proficient Auto Logistics
Large investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd acquired a new stake in shares of Proficient Auto Logistics in the second quarter valued at about $49,000. Ieq Capital LLC acquired a new position in Proficient Auto Logistics during the second quarter worth about $122,000. Deutsche Bank AG purchased a new position in Proficient Auto Logistics in the second quarter valued at about $144,000. Bank of America Corp DE acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at approximately $145,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Proficient Auto Logistics during the 1st quarter valued at approximately $167,000.
Proficient Auto Logistics Company Profile
(
Get Free Report)
Proficient Auto Logistics, Inc is a vehicle transportation and logistics company that moves finished automobiles for automotive manufacturers, dealerships, auctions and other customers. The company focuses primarily on transporting vehicles between manufacturing plants, distribution centers, rail facilities, ports, dealerships and end destinations.
Proficient Auto Logistics operates through a network of regional auto transport businesses and provides services including vehicle pickup, long-haul transportation, delivery coordination and related logistics support.
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