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

Shares of Vertex, Inc. (NASDAQ:VERX) have received an average rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.9286.

Several research analysts have issued reports on VERX shares. Wall Street Zen lowered shares of Vertex from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Needham & Company LLC restated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Citigroup raised their price target on shares of Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings lowered shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $21.00 price target on shares of Vertex in a report on Thursday, May 7th.

Vertex Stock Down 2.6%

Shares of NASDAQ VERX opened at $11.12 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. Vertex has a 1 year low of $10.59 and a 1 year high of $36.75. The company has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $15.17. The firm has a market cap of $1.80 billion, a PE ratio of -222.40 and a beta of 0.82.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. During the same quarter last year, the business earned $0.15 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Vertex will post 0.52 EPS for the current year.

Institutional Trading of Vertex

Several large investors have recently modified their holdings of VERX. Global Retirement Partners LLC acquired a new stake in shares of Vertex during the 4th quarter worth approximately $32,000. Empowered Funds LLC acquired a new stake in shares of Vertex during the 4th quarter worth approximately $45,000. Raymond James Financial Inc. acquired a new stake in shares of Vertex during the 2nd quarter worth approximately $54,000. Advisors Asset Management Inc. grew its position in shares of Vertex by 36.9% during the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after buying an additional 895 shares during the period. Finally, Assetmark Inc. grew its position in shares of Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.