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Can Par Pacific Holdings (PARR) Run Higher on Strong Earnings Estimate Revisions?

Zacks

Par Pacific Holdings, Inc. PARR manages and maintains interests in energy and infrastructure businesses that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PARR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Par Pacific Holdings could be a solid choice for investors.

Current Quarter Estimates for PARR

In the past 30 days, one estimate has gone higher for Par Pacific Holdings while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 37 cents a share 30 days ago, to 44 cents today, a move of 18.9%.

Current Year Estimates for PARR

Meanwhile, Par Pacific Holdings current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.24 per share 30 days ago to $1.49 per share today, an increase of 20.2%.

Par Pacific Holdings, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 8.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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