Vertex, Inc. (NASDAQ:VERX) Receives Average Recommendation of “Hold” from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.9286.

VERX has been the subject of several research analyst reports. Jefferies Financial Group set a $14.00 price objective on Vertex in a report on Saturday, May 9th. Citizens Jmp decreased their price objective on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. DA Davidson set a $15.00 price objective on Vertex in a report on Friday, May 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $19.00 price objective on shares of Vertex in a report on Friday, May 8th.

Vertex Stock Performance

NASDAQ VERX opened at $13.44 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $12.58 and its 200 day moving average price is $16.11. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -268.80 and a beta of 0.81. Vertex has a 12 month low of $10.59 and a 12 month high of $42.44.

Vertex (NASDAQ:VERX) last posted its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. On average, sell-side analysts expect that Vertex will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Vertex by 9.0% in the third quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock valued at $207,917,000 after acquiring an additional 689,143 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Vertex in the first quarter valued at approximately $37,796,000. Wasatch Advisors LP boosted its holdings in shares of Vertex by 9.2% in the third quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock valued at $67,640,000 after acquiring an additional 229,774 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Vertex by 76.7% in the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after acquiring an additional 937,905 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Vertex by 19.9% in 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 period. 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.