Vertex Energy Inc. (VTNR) Lifted to “Buy” at Zacks Investment Research
Vertex Energy Inc. (NASDAQ:VTNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $1.25 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 5.93% from the stock’s current price.
According to Zacks, “Vertex Energy, Inc. operates as an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex operates in three divisions: Black Oil Division, Refining and Marketing Division and Thermal Chemical Extraction Process. The Company also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as end products. It sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. Vertex Energy, Inc. is based in Houston, Texas. “
Shares of Vertex Energy (NASDAQ:VTNR) opened at 1.18 on Thursday. The stock has a 50 day moving average of $1.28 and a 200 day moving average of $1.45. The company’s market cap is $36.59 million. Vertex Energy has a 12-month low of $0.63 and a 12-month high of $2.80.
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Vertex Energy (NASDAQ:VTNR) last posted its earnings results on Thursday, August 11th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.01. Vertex Energy had a negative net margin of 6.64% and a negative return on equity of 26.17%. The company earned $24.40 million during the quarter, compared to analyst estimates of $18.70 million. Equities research analysts predict that Vertex Energy will post ($0.40) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Vertex Energy stock. Redmond Asset Management LLC raised its position in Vertex Energy Inc. (NASDAQ:VTNR) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 692,960 shares of the company’s stock after buying an additional 7,500 shares during the period. Redmond Asset Management LLC owned approximately 2.33% of Vertex Energy worth $922,000 at the end of the most recent reporting period. 23.24% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Energy Company Profile
Vertex Energy, Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions.
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