Vertex (NASDAQ:VERX) Cut to “Hold” at Wall Street Zen

Vertex (NASDAQ:VERX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

VERX has been the topic of several other reports. Weiss Ratings lowered Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. TD Cowen assumed coverage on Vertex in a research note on Monday, June 29th. They set a “buy” rating and a $14.00 price target for the company. Piper Sandler lifted their price objective on Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating on shares of Vertex in a research note on Monday, June 8th. Finally, Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a report on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.20.

Vertex Trading Up 9.0%

Shares of VERX stock opened at $11.87 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a market cap of $1.92 billion, a P/E ratio of -237.40 and a beta of 0.83. The company has a 50 day moving average of $12.46 and a 200-day moving average of $13.79. Vertex has a 12-month low of $10.21 and a 12-month high of $35.25.

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

Hedge Funds Weigh In On Vertex

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock valued at $207,000 after purchasing an additional 753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Vertex by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock worth $2,933,000 after purchasing an additional 1,121 shares in the last quarter. Assetmark Inc. lifted its holdings in Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after purchasing an additional 1,376 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Vertex by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after purchasing an additional 1,383 shares during the period. 70.32% of the stock is owned by institutional investors.

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.