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

Shares of Vertex, Inc. (NASDAQ:VERX) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $32.60.

VERX has been the subject of a number of research analyst reports. DA Davidson decreased their target price on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Jefferies Financial Group set a $28.00 price objective on Vertex in a report on Monday, November 3rd. Citigroup lowered shares of Vertex from a “market outperform” rating to a “hold” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group dropped their target price on shares of Vertex from $43.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Citizens Jmp reduced their price target on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating for the company in a report on Tuesday, November 4th.

Vertex Price Performance

Vertex stock opened at $20.04 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -57.26, a price-to-earnings-growth ratio of 4.06 and a beta of 0.68. The firm has a 50-day moving average of $20.90 and a two-hundred day moving average of $26.63. Vertex has a 1 year low of $18.54 and a 1 year high of $60.71.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The firm had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. On average, research analysts forecast that Vertex will post 0.38 earnings per share for the current year.

Vertex announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently made changes to their positions in the stock. Aperture Investors LLC grew its position in Vertex by 1.8% during the 1st quarter. Aperture Investors LLC now owns 644,215 shares of the company’s stock worth $22,554,000 after purchasing an additional 11,517 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Vertex by 14.7% during the second quarter. Bank of New York Mellon Corp now owns 201,797 shares of the company’s stock worth $7,130,000 after buying an additional 25,812 shares during the period. Comerica Bank grew its holdings in shares of Vertex by 16.2% during the first quarter. Comerica Bank now owns 225,865 shares of the company’s stock valued at $7,908,000 after buying an additional 31,528 shares during the last quarter. PDT Partners LLC increased its position in shares of Vertex by 258.6% in the 1st quarter. PDT Partners LLC now owns 96,465 shares of the company’s stock valued at $3,377,000 after acquiring an additional 69,565 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Vertex by 58.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 308,435 shares of the company’s stock valued at $10,899,000 after acquiring an additional 114,384 shares during the period. 70.32% of the stock is currently owned by hedge funds and other 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.