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

Shares of Vertex, Inc. (NASDAQ:VERX) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.9375.

Several research firms have issued reports on VERX. DA Davidson set a $13.00 price objective on Vertex in a research note on Thursday. Stifel Nicolaus set a $16.00 target price on Vertex in a report on Wednesday. UBS Group set a $25.00 price target on Vertex in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Piper Sandler dropped their price objective on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday.

Vertex Stock Performance

Shares of VERX stock opened at $12.75 on Friday. The company has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $22.29. Vertex has a one year low of $11.96 and a one year high of $48.00. The stock has a market cap of $2.03 billion, a P/E ratio of 318.83, a P/E/G ratio of 1.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Vertex had a net margin of 0.96% and a return on equity of 25.25%. The company had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. During the same period in the prior year, the firm earned $0.15 EPS. Vertex’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Vertex will post 0.38 EPS for the current year.

Vertex announced that its board has authorized a share buyback program on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Vertex

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Vertex in the 4th quarter valued at $32,000. Empowered Funds LLC bought a new stake in shares of Vertex during the 4th quarter worth $45,000. Raymond James Financial Inc. acquired a new stake in Vertex in the second quarter valued at about $54,000. Blue Trust Inc. boosted its stake in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after buying an additional 512 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Vertex by 36.9% in the fourth quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock valued at $66,000 after acquiring an additional 895 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

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.