Vertex (NASDAQ:VERX) Raised to “Strong-Buy” at TD Cowen

Vertex (NASDAQ:VERX) was upgraded by TD Cowen to a “strong-buy” rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has a $14.00 price objective on the stock. TD Cowen’s price target would indicate a potential upside of 21.95% from the company’s previous close.

VERX has been the subject of several other reports. Piper Sandler raised their price target on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Vertex from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a report on Saturday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Vertex in a research report on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Vertex in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.47.

Vertex Price Performance

VERX stock opened at $11.48 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $12.61 and a 200-day moving average price of $14.70. Vertex has a 52-week low of $10.21 and a 52-week high of $36.75. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -229.60 and a beta of 0.82.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. Equities research analysts forecast that Vertex will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Jennison Associates LLC lifted its holdings in shares of Vertex by 21.1% during the 4th quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock valued at $19,807,000 after buying an additional 172,692 shares during the period. Hyperion Capital Advisors LP bought a new stake in shares of Vertex in the third quarter worth $13,387,000. Champlain Investment Partners LLC increased its position in Vertex by 19.9% during the third quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock valued at $50,807,000 after acquiring an additional 340,680 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Vertex during the third quarter valued at $1,882,000. Finally, ShawSpring Partners LLC lifted its holdings in Vertex by 51.8% in the third quarter. ShawSpring Partners LLC now owns 1,081,446 shares of the company’s stock valued at $26,809,000 after acquiring an additional 369,001 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.