Brokerages Anticipate Par Pacific Holdings, Inc. (PARR) to Announce $0.61 EPS
Par Pacific Holdings, Inc. (NASDAQ:PARR) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation. Par Pacific Holdings’ rating score has improved by 33.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12 month consensus price target of $21.00 for the company and are anticipating that the company will post $0.61 earnings per share for the current quarter, according to Zacks. Zacks has also given Par Pacific Holdings an industry rank of 75 out of 265 based on the ratings given to related companies.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Par Pacific Holdings from a “sell” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Wednesday, July 19th. Seaport Global Securities raised Par Pacific Holdings from a “neutral” rating to a “buy” rating and increased their target price for the company from $19.00 to $22.00 in a report on Monday, September 11th. Finally, Cowen and Company reissued a “buy” rating and issued a $20.00 target price on shares of Par Pacific Holdings in a report on Thursday, August 17th.
In other Par Pacific Holdings news, major shareholder Whitebox Advisors Llc sold 44,800 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $17.78, for a total value of $796,544.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 2,330,604 shares of company stock valued at $45,441,429.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Par Pacific Holdings by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,455,829 shares of the company’s stock worth $26,263,000 after buying an additional 65,493 shares in the last quarter. Evermore Global Advisors LLC increased its position in Par Pacific Holdings by 15.2% in the second quarter. Evermore Global Advisors LLC now owns 766,806 shares of the company’s stock worth $13,833,000 after buying an additional 101,425 shares in the last quarter. Rubric Capital Management LP increased its position in Par Pacific Holdings by 1.6% in the second quarter. Rubric Capital Management LP now owns 640,000 shares of the company’s stock worth $11,546,000 after buying an additional 10,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Par Pacific Holdings by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 577,718 shares of the company’s stock worth $10,421,000 after buying an additional 58,683 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Par Pacific Holdings by 3.7% in the second quarter. Teachers Advisors LLC now owns 483,762 shares of the company’s stock worth $8,727,000 after buying an additional 17,301 shares in the last quarter.
Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 20.75 on Friday. The stock’s 50 day moving average price is $18.86 and its 200-day moving average price is $17.48. The company has a market capitalization of $950.39 million and a PE ratio of 46.32. Par Pacific Holdings has a 1-year low of $12.47 and a 1-year high of $21.94.
Par Pacific Holdings (NASDAQ:PARR) last posted its earnings results on Monday, August 7th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $564.25 million during the quarter, compared to the consensus estimate of $600.80 million. On average, equities analysts predict that Par Pacific Holdings will post $1.61 EPS for the current year.
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