Vertex, Inc. (NASDAQ:VERX) Receives Consensus Rating of “Hold” from Brokerages

Vertex, Inc. (NASDAQ:VERX) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.4286.

Several research analysts recently commented on the stock. Stephens decreased their target price on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Citigroup increased their price target on shares of Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. BMO Capital Markets upped their price objective on shares of Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird dropped their target price on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th.

Vertex Stock Down 4.0%

VERX opened at $12.72 on Friday. Vertex has a 12 month low of $10.21 and a 12 month high of $26.63. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The business’s 50-day moving average price is $12.24 and its 200-day moving average price is $13.06. The company has a market cap of $2.06 billion, a P/E ratio of 636.32 and a beta of 0.83.

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

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Vertex during the first quarter valued at approximately $37,796,000. Wasatch Advisors LP increased its position in Vertex by 9.2% during the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock valued at $67,640,000 after purchasing an additional 229,774 shares during the period. Wellington Management Group LLP raised its holdings in Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after purchasing an additional 937,905 shares in the last quarter. State Street Corp raised its holdings in Vertex by 8.0% in the 4th quarter. State Street Corp now owns 1,849,171 shares of the company’s stock worth $36,928,000 after purchasing an additional 136,656 shares in the last quarter. Finally, Park West Asset Management LLC lifted its position in shares of Vertex by 46.7% in the 4th quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company’s stock worth $36,614,000 after purchasing an additional 583,428 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

About Vertex

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.