Vertex, Inc. (NASDAQ:VERX) Receives $20.47 Average PT from Analysts

Shares of Vertex, Inc. (NASDAQ:VERX) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.4667.

A number of brokerages have commented on VERX. Citigroup boosted their price objective on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Morgan Stanley restated an “overweight” rating and issued a $19.00 target price on shares of Vertex in a report on Friday, May 8th. TD Cowen initiated coverage on Vertex in a research report on Monday, June 29th. They set a “buy” rating and a $14.00 target price on the stock. Wall Street Zen raised Vertex from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a report on Monday, June 8th.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently bought and sold shares of VERX. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex during the first quarter valued at about $37,796,000. Wasatch Advisors LP grew its position in Vertex by 9.2% in the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock worth $67,640,000 after purchasing an additional 229,774 shares in the last quarter. Wellington Management Group LLP grew its position in Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after purchasing an additional 937,905 shares in the last quarter. State Street Corp grew its position in Vertex by 8.0% in the 4th quarter. State Street Corp now owns 1,849,171 shares of the company’s stock worth $36,928,000 after purchasing an additional 136,656 shares in the last quarter. Finally, Park West Asset Management LLC increased its stake in Vertex by 46.7% in the 4th quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company’s stock valued at $36,614,000 after buying an additional 583,428 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Up 3.3%

Shares of NASDAQ VERX opened at $13.16 on Tuesday. The stock has a market capitalization of $2.13 billion, a P/E ratio of -263.20 and a beta of 0.83. The company has a 50-day moving average price of $12.63 and a 200-day moving average price of $14.09. Vertex has a 1 year low of $10.21 and a 1 year high of $36.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86.

Vertex (NASDAQ:VERX) last posted its 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 the consensus estimate of $194.82 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Vertex will post 0.52 EPS for the current fiscal year.

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.