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

Shares of Vertex, Inc. (NASDAQ:VERX) have been given an average rating of “Hold” by the seventeen brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.9375.

VERX has been the topic of several recent research reports. BMO Capital Markets cut 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. UBS Group set a $25.00 target price on Vertex in a research report on Thursday. Needham & Company LLC reduced their price target on Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley set a $20.00 price objective on Vertex in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday.

Institutional Trading of Vertex

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Vertex by 36.3% in the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock valued at $6,336,000 after purchasing an additional 48,181 shares during the period. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after buying an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vertex by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock valued at $2,869,000 after buying an additional 3,461 shares during the period. Blue Trust Inc. raised its position in shares of Vertex by 44.4% during the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after acquiring an additional 512 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Vertex by 4.8% during the second quarter. William Blair Investment Management LLC now owns 761,595 shares of the company’s stock worth $26,911,000 after acquiring an additional 34,646 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Trading Up 3.1%

Shares of Vertex stock opened at $12.75 on Friday. The firm’s 50 day moving average is $18.75 and its 200 day moving average is $22.29. The firm has a market capitalization of $2.03 billion, a PE ratio of 318.83, a price-to-earnings-growth ratio of 1.41 and a beta of 0.59. Vertex has a 1 year low of $11.96 and a 1 year high of $48.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm 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 25.25%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. Equities research analysts forecast that Vertex will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its board has initiated a stock buyback plan on Monday, November 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.