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

Vertex, Inc. (NASDAQ:VERX) has been given an average rating of “Hold” by the fifteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.0667.

VERX has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. UBS Group set a $25.00 price objective on shares of Vertex in a report on Thursday, February 12th. Needham & Company LLC cut their price objective on shares of Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Citizens Jmp reduced their target price on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a 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 Stock Performance

NASDAQ VERX opened at $12.03 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. The stock’s 50-day simple moving average is $14.12 and its two-hundred day simple moving average is $18.98. Vertex has a twelve month low of $11.25 and a twelve month high of $42.44. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 300.83, a PEG ratio of 1.43 and a beta of 0.80.

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

Insider Activity

In related news, insider Jeffrey Westphal purchased 247,740 shares of Vertex stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average cost of $13.08 per share, for a total transaction of $3,240,439.20. Following the transaction, the insider directly owned 247,740 shares in the company, valued at $3,240,439.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric C. Andersen purchased 40,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the purchase, the director directly owned 150,341 shares in the company, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 437,740 shares of company stock worth $5,636,339. Company insiders own 43.25% of the company’s stock.

Institutional Trading of Vertex

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