Vertex (NASDAQ:VERX) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Vertex (NASDAQ:VERX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the stock. Stephens lowered their price target on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Robert W. Baird decreased their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. Citigroup increased their price target on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, TD Cowen initiated coverage on Vertex in a research report on Monday, June 29th. They issued a “buy” rating and a $14.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.43.

Vertex Trading Up 3.2%

NASDAQ VERX opened at $11.94 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of 597.30 and a beta of 0.83. The business’s 50-day moving average price is $12.34 and its two-hundred day moving average price is $13.30. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.40. Vertex has a 12 month low of $10.21 and a 12 month high of $27.80.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. On average, analysts expect that Vertex will post 0.54 EPS for the current year.

Institutional Trading of Vertex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in shares of Vertex by 21.1% in the fourth quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock valued at $19,807,000 after purchasing an additional 172,692 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Vertex by 1,906.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock worth $11,125,000 after buying an additional 889,042 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vertex in the 1st quarter valued at $37,796,000. Norris Perne & French LLP MI lifted its stake in Vertex by 26.1% during the 4th quarter. Norris Perne & French LLP MI now owns 259,854 shares of the company’s stock valued at $5,189,000 after acquiring an additional 53,718 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Vertex by 42.2% during the 4th quarter. William Blair Investment Management LLC now owns 1,215,172 shares of the company’s stock valued at $24,267,000 after acquiring an additional 360,791 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Company Profile

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.