Piper Sandler Issues Positive Forecast for Vertex (NASDAQ:VERX) Stock Price

Vertex (NASDAQ:VERX) had its target price lifted by Piper Sandler from $14.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 10.81% from the company’s current price.

VERX has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Citizens Jmp reduced their price target on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. BMO Capital Markets decreased their price objective on Vertex from $22.00 to $16.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus set a $16.00 target price on Vertex in a report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vertex currently has a consensus rating of “Hold” and a consensus price target of $20.86.

Vertex Stock Performance

Shares of NASDAQ VERX traded up $1.78 during mid-day trading on Thursday, reaching $14.44. 1,753,754 shares of the company were exchanged, compared to its average volume of 1,911,853. The stock has a market capitalization of $2.31 billion, a P/E ratio of 358.39 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. The company’s 50-day simple moving average is $12.83 and its 200-day simple moving average is $17.04. Vertex has a twelve month low of $10.59 and a twelve month high of $42.44.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. Vertex’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. As a group, research analysts predict that Vertex will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Westphal acquired 247,740 shares of the company’s stock in a transaction on Friday, February 13th. The stock was purchased at an average cost of $13.08 per share, with a total value of $3,240,439.20. Following the acquisition, the insider directly owned 247,740 shares of the company’s stock, valued at approximately $3,240,439.20. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric C. Andersen bought 40,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares in the company, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 437,740 shares of company stock worth $5,636,339. Corporate insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Vertex

Large investors have recently bought and sold shares of the company. Wasatch Advisors LP acquired a new position in shares of Vertex in the 2nd quarter valued at approximately $88,293,000. Massachusetts Financial Services Co. MA boosted its position in shares of Vertex by 231.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after acquiring an additional 2,490,097 shares in the last quarter. Legacy Advisors LLC increased its stake in Vertex by 2,730.1% in the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after acquiring an additional 1,296,297 shares during the last quarter. Park West Asset Management LLC bought a new position in Vertex in the third quarter valued at approximately $30,988,000. Finally, Wellington Management Group LLP raised its position in Vertex by 76.7% during the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after purchasing an additional 937,905 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.