Vertex, Inc. (NASDAQ:VERX) Given Consensus Recommendation of “Hold” by Brokerages

Vertex, Inc. (NASDAQ:VERX) has been given an average recommendation of “Hold” by the fifteen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.4286.

Several research analysts recently commented on VERX shares. Wall Street Zen upgraded Vertex from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson lowered their price objective on Vertex from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Morgan Stanley restated an “equal weight” rating and set a $15.00 price objective (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Robert W. Baird cut their target price on Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Finally, Stephens reduced their target price on Vertex from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th.

Vertex Price Performance

Shares of VERX stock opened at $12.92 on Wednesday. The firm has a fifty day simple moving average of $12.90 and a 200-day simple moving average of $12.79. The company has a market capitalization of $2.10 billion, a PE ratio of 646.32 and a beta of 0.83. Vertex has a twelve month low of $10.21 and a twelve month high of $26.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Equities research analysts anticipate that Vertex will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of Vertex

Institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Vertex during the 1st quarter worth $37,796,000. Wasatch Advisors LP acquired a new stake in shares of Vertex in the 2nd quarter valued at about $88,293,000. Legacy Advisors LLC lifted its position in shares of Vertex by 2,730.1% during the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock worth $33,312,000 after purchasing an additional 1,296,297 shares during the last quarter. Park West Asset Management LLC bought a new position in shares of Vertex during the third quarter worth about $30,988,000. Finally, Wellington Management Group LLP grew its stake in Vertex by 76.7% in the third 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. 70.32% of the stock is owned by institutional investors and hedge funds.

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.