Proficient Auto Logistics (NASDAQ:PAL) Releases Earnings Results, Misses Expectations By $0.20 EPS

Proficient Auto Logistics (NASDAQ:PAL) issued its earnings results on Monday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.20), FiscalAI reports. Proficient Auto Logistics had a positive return on equity of 0.25% and a negative net margin of 8.57%.The firm had revenue of $109.40 million for the quarter, compared to analyst estimates of $106.78 million.

Proficient Auto Logistics Stock Performance

Shares of PAL traded down $0.10 during mid-day trading on Monday, hitting $7.24. 311,392 shares of the company’s stock were exchanged, compared to its average volume of 304,355. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics has a fifty-two week low of $4.85 and a fifty-two week high of $10.97. The business’s 50 day moving average is $7.05 and its two-hundred day moving average is $7.14. The firm has a market capitalization of $201.05 million, a P/E ratio of -5.44 and a beta of 1.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PAL shares. Weiss Ratings upgraded Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Wall Street Zen cut shares of Proficient Auto Logistics from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Two equities research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Transactions at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 33,743 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total transaction of $171,414.44. Following the completion of the sale, the chief executive officer directly owned 964,099 shares of the company’s stock, valued at $4,897,622.92. This represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of Proficient Auto Logistics by 77.7% during the third 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 last quarter. Jones Financial Companies Lllp purchased a new position in Proficient Auto Logistics in the 1st quarter valued at $73,000. Alliancebernstein L.P. increased its stake 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. Odyssean LLC acquired a new position in Proficient Auto Logistics in the 4th quarter valued at $98,000. Finally, Invesco Ltd. purchased a new position in Proficient Auto Logistics during the 4th quarter worth $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.