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

Vertex, Inc. (NASDAQ:VERX) has received an average rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.0667.

A number of analysts recently commented on the company. Morgan Stanley set a $20.00 price target on Vertex in a research note on Thursday, February 12th. Citigroup decreased their price objective on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group dropped their target price on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. DA Davidson set a $13.00 price target on shares of Vertex in a research report on Thursday, February 12th. Finally, Jefferies Financial Group downgraded shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Wednesday, February 11th.

Vertex Trading Down 4.6%

VERX opened at $14.26 on Wednesday. Vertex has a one year low of $11.86 and a one year high of $42.44. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day simple moving average of $16.64 and a two-hundred day simple moving average of $20.49. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 356.59, a PEG ratio of 1.78 and a beta of 0.63.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The firm had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same period last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts predict that Vertex will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, Director Eric C. Andersen bought 40,000 shares of the stock in a transaction dated Friday, February 20th. The stock was bought at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the purchase, the director directly owned 150,341 shares in the company, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Westphal purchased 247,740 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were purchased at an average price of $13.08 per share, for a total transaction of $3,240,439.20. Following the completion of the transaction, the insider directly owned 247,740 shares of the company’s stock, valued at $3,240,439.20. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 437,740 shares of company stock worth $5,636,339 in the last quarter. Company insiders own 43.25% of the company’s stock.

Hedge Funds Weigh In On Vertex

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Vertex by 44.6% in the third quarter. Principal Financial Group Inc. now owns 892,949 shares of the company’s stock worth $22,136,000 after acquiring an additional 275,520 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Vertex by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock worth $207,917,000 after purchasing an additional 689,143 shares during the last quarter. Herald Investment Management Ltd boosted its stake in Vertex by 81.8% in the 3rd quarter. Herald Investment Management Ltd now owns 200,000 shares of the company’s stock worth $4,958,000 after purchasing an additional 90,000 shares in the last quarter. Gagnon Securities LLC boosted its stake in Vertex by 40.3% in the 3rd quarter. Gagnon Securities LLC now owns 378,685 shares of the company’s stock worth $9,388,000 after purchasing an additional 108,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Vertex by 231.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock valued at $88,448,000 after purchasing an additional 2,490,097 shares during the last quarter. Institutional investors 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.