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

Vertex, Inc. (NASDAQ:VERX) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.4667.

VERX has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Vertex in a research report on Monday, June 29th. They set a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC reissued a “buy” rating on shares of Vertex in a report on Monday, June 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. Piper Sandler raised their price target on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Vertex in a report on Friday, May 8th.

Vertex Stock Up 4.8%

Shares of NASDAQ:VERX opened at $12.98 on Tuesday. Vertex has a fifty-two week low of $10.21 and a fifty-two week high of $36.75. The firm’s 50 day moving average price is $12.68 and its 200 day moving average price is $14.24. 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 stock has a market cap of $2.10 billion, a price-to-earnings ratio of -259.60 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.17 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 company had revenue of $196.65 million during the quarter, compared to analysts’ expectations of $194.82 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Vertex will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in 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. increased its stake in Vertex by 9.9% in the third 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vertex by 1.4% during the second 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. raised its holdings in Vertex by 49.1% during the fourth 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 raised its holdings in Vertex by 2.2% during the second 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 in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.