Wells Fargo & Company MN Buys 2,373 Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Wells Fargo & Company MN raised its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 37.9% in the 4th quarter, Holdings Channel reports. The firm owned 8,640 shares of the company’s stock after purchasing an additional 2,373 shares during the quarter. Wells Fargo & Company MN’s holdings in Proficient Auto Logistics were worth $70,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PAL. Barclays PLC bought a new stake in Proficient Auto Logistics in the 3rd quarter valued at about $311,000. JPMorgan Chase & Co. boosted its stake in Proficient Auto Logistics by 159,197.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,754 shares of the company’s stock valued at $791,000 after purchasing an additional 55,719 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Proficient Auto Logistics by 7.9% in the 4th quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock worth $137,000 after buying an additional 1,238 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in shares of Proficient Auto Logistics by 20.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock worth $121,000 after buying an additional 2,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Proficient Auto Logistics by 10.8% in the 4th quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company’s stock worth $272,000 after buying an additional 3,287 shares during the last quarter.

Proficient Auto Logistics Stock Performance

PAL opened at $8.05 on Wednesday. The business’s fifty day simple moving average is $8.62 and its 200 day simple moving average is $9.20. Proficient Auto Logistics, Inc. has a 52 week low of $6.81 and a 52 week high of $21.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The firm had revenue of $95.21 million during the quarter, compared to analysts’ expectations of $94.65 million. On average, analysts predict that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PAL has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of Proficient Auto Logistics in a research note on Wednesday, February 12th. Stifel Nicolaus decreased their price target on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

Proficient Auto Logistics 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.