Wall Street Zen Downgrades Vertex (NASDAQ:VERX) to Hold

Vertex (NASDAQ:VERX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also weighed in on VERX. Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a report on Saturday, May 9th. Weiss Ratings lowered shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Vertex in a research note on Thursday, May 7th. Piper Sandler lifted their price target on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.20.

Vertex Stock Performance

Vertex stock opened at $11.87 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of -237.40 and a beta of 0.83. The stock has a fifty day moving average price of $12.46 and a 200 day moving average price of $13.75. Vertex has a 52 week low of $10.21 and a 52 week high of $35.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm 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 firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. Equities research analysts anticipate that Vertex will post 0.52 earnings per share for the current year.

Institutional Trading of Vertex

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Vertex by 74.8% in the second quarter. Versant Capital Management Inc now owns 8,604 shares of the company’s stock valued at $99,000 after buying an additional 3,683 shares during the period. Quantinno Capital Management LP grew its stake in Vertex by 275.2% during the first quarter. Quantinno Capital Management LP now owns 141,793 shares of the company’s stock worth $1,686,000 after buying an additional 104,006 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vertex during the first quarter worth approximately $37,796,000. Renaissance Technologies LLC increased its position in shares of Vertex by 8.1% in the first quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock worth $3,454,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Vertex by 1,906.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock worth $11,125,000 after acquiring an additional 889,042 shares in 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.