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

Shares of Vertex, Inc. (NASDAQ:VERX) have been given a consensus rating of “Hold” by the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $20.9286.

A number of brokerages recently issued reports on VERX. Needham & Company LLC restated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Weiss Ratings lowered Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. DA Davidson set a $15.00 target price on Vertex in a report on Friday, May 8th. Finally, Citigroup increased their target price on shares of Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th.

Institutional Investors Weigh In On Vertex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in Vertex in the fourth quarter valued at $32,000. Empowered Funds LLC acquired a new position in Vertex in the fourth quarter valued at $45,000. Raymond James Financial Inc. acquired a new position in shares of Vertex during the second quarter worth about $54,000. Advisors Asset Management Inc. increased its stake in shares of Vertex by 36.9% during the fourth quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after acquiring an additional 895 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Down 2.6%

VERX stock opened at $10.84 on Friday. Vertex has a twelve month low of $10.21 and a twelve month high of $36.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock’s 50 day moving average is $12.66 and its 200-day moving average is $14.87. The firm has a market capitalization of $1.75 billion, a PE ratio of -216.80 and a beta of 0.82.

Vertex (NASDAQ:VERX) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. Sell-side analysts expect that Vertex will post 0.52 EPS for the current fiscal year.

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.