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

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

Proficient Auto Logistics Stock Performance

PAL traded down $0.10 during trading on Monday, reaching $7.24. The company’s stock had a trading volume of 310,276 shares, compared to its average volume of 303,850. The company has a market capitalization of $201.05 million, a price-to-earnings ratio of -5.44 and a beta of 1.25. The company’s fifty day moving average price is $7.05 and its 200-day moving average price is $7.14. Proficient Auto Logistics has a 52-week low of $4.85 and a 52-week high of $10.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAL shares. Zacks Research raised Proficient Auto Logistics from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a research report on Monday, May 11th. Wall Street Zen lowered Proficient Auto Logistics from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings raised Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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 business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $5.08, for a total transaction of $171,414.44. Following the sale, the chief executive officer directly owned 964,099 shares in the company, valued at approximately $4,897,622.92. The trade was a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 3,866 shares in the last quarter. Millennium Management LLC boosted its position in Proficient Auto Logistics by 5.9% during the first quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after purchasing an additional 35,335 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Proficient Auto Logistics in the first quarter valued at $215,000. Jones Financial Companies Lllp purchased a new stake in shares of Proficient Auto Logistics in the 1st quarter worth about $73,000. Finally, Goldman Sachs Group Inc. grew its stake in Proficient Auto Logistics by 138.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock valued at $884,000 after acquiring an additional 61,272 shares during the last quarter.

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.