Zacks: Par Pacific Holdings, Inc. (NASDAQ:PARR) Given Consensus Recommendation of “Strong Buy” by Brokerages
Shares of Par Pacific Holdings, Inc. (NASDAQ:PARR) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation. Par Pacific Holdings’ rating score has improved by 33.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus target price of $22.33 for the company and are expecting that the company will post ($0.23) EPS for the current quarter, according to Zacks. Zacks has also given Par Pacific Holdings an industry rank of 181 out of 265 based on the ratings given to related companies.
PARR has been the topic of a number of recent analyst reports. Cowen and Company initiated coverage on Par Pacific Holdings in a research note on Friday, June 10th. They set a “market perform” rating and a $15.00 target price on the stock. Miller Tabak upgraded Par Pacific Holdings from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $24.00 to $25.30 in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Par Pacific Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Seaport Global Securities began coverage on Par Pacific Holdings in a research note on Thursday, September 8th. They set a “buy” rating and a $22.00 target price on the stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/zacks-par-pacific-holdings-inc-nasdaqparr-given-consensus-recommendation-of-strong-buy-by-brokerages.html
In related news, major shareholder Whitebox Advisors Llc sold 182,204 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $13.32, for a total value of $2,426,957.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Melvyn N. Klein acquired 4,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $52,200.00. Following the completion of the purchase, the director now directly owns 23,339 shares in the company, valued at approximately $304,573.95. The disclosure for this purchase can be found here.
Large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new stake in shares of Par Pacific Holdings during the second quarter worth about $167,000. Alliancebernstein L.P. bought a new stake in shares of Par Pacific Holdings during the second quarter valued at $193,000. BlackRock Advisors LLC boosted its stake in shares of Par Pacific Holdings by 47.0% in the second quarter. BlackRock Advisors LLC now owns 13,269 shares of the company’s stock valued at $204,000 after buying an additional 4,241 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Par Pacific Holdings during the second quarter valued at $244,000. Finally, American International Group Inc. boosted its stake in shares of Par Pacific Holdings by 71.6% in the second quarter. American International Group Inc. now owns 16,097 shares of the company’s stock valued at $247,000 after buying an additional 6,716 shares in the last quarter.
Par Pacific Holdings (NASDAQ:PARR) traded down 1.57% during midday trading on Tuesday, hitting $13.78. 60,630 shares of the stock were exchanged. The company’s market capitalization is $567.43 million. Par Pacific Holdings has a 1-year low of $12.18 and a 1-year high of $28.31. The company’s 50 day moving average is $13.55 and its 200 day moving average is $16.12.
Par Pacific Holdings Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Par Pacific Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Par Pacific Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.