Stephens Cuts Vertex (NASDAQ:VERX) Price Target to $18.00

Vertex (NASDAQ:VERX) had its target price reduced by Stephens from $20.00 to $18.00 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on VERX. Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Morgan Stanley restated an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a research report on Tuesday, July 21st. Jefferies Financial Group set a $14.00 price objective on Vertex in a research note on Saturday, May 9th. Weiss Ratings downgraded Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Robert W. Baird decreased their target price on Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.53.

Vertex Trading Down 1.9%

VERX opened at $11.57 on Tuesday. The stock has a market capitalization of $1.87 billion, a PE ratio of 578.79 and a beta of 0.83. Vertex has a one year low of $10.21 and a one year high of $28.86. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50 day moving average price is $12.37 and its 200 day moving average price is $13.31.

Vertex (NASDAQ:VERX) last posted its earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to analysts’ expectations of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, equities research analysts expect that Vertex will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Vertex

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Vertex during the second quarter worth approximately $54,000. Global Retirement Partners LLC purchased a new position in Vertex in the fourth quarter valued at approximately $32,000. Advisors Asset Management Inc. raised its holdings in Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Vertex during the 4th quarter worth approximately $45,000. Finally, Assetmark Inc. lifted its position in shares of Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares during the last quarter. Institutional investors and hedge funds 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.