Vertex (NASDAQ:VERX) Hits New 12-Month Low – What’s Next?

Vertex, Inc. (NASDAQ:VERX) shares hit a new 52-week low on Thursday . The stock traded as low as $18.16 and last traded at $18.31, with a volume of 507156 shares traded. The stock had previously closed at $19.77.

Wall Street Analyst Weigh In

VERX has been the subject of a number of recent research reports. Jefferies Financial Group set a $28.00 price objective on shares of Vertex in a research note on Monday, November 3rd. JMP Securities set a $37.00 price target on Vertex in a research report on Tuesday, November 4th. DA Davidson decreased their price objective on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. Stifel Nicolaus dropped their price objective on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Finally, Needham & Company LLC reduced their target price on shares of Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Vertex currently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Vertex Trading Down 0.8%

The company has a 50 day moving average of $19.68 and a two-hundred day moving average of $23.69. The stock has a market capitalization of $2.96 billion, a PE ratio of -53.00, a P/E/G ratio of 2.85 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The company had revenue of $192.11 million during the quarter, compared to analysts’ expectations of $191.62 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex announced that its board has approved a share repurchase program on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in shares of Vertex by 31.0% during the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after buying an additional 347 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Vertex during the 2nd quarter worth about $54,000. Blue Trust Inc. grew its stake in Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after purchasing an additional 1,376 shares during the last quarter. Hedge funds and other 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.