Citizens Jmp Cuts Vertex (NASDAQ:VERX) Price Target to $25.00

Vertex (NASDAQ:VERX) had its price objective trimmed by Citizens Jmp from $37.00 to $25.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research firms have also recently issued reports on VERX. The Goldman Sachs Group cut their price objective on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup downgraded shares of Vertex from a “market outperform” rating to a “hold” rating in a report on Tuesday, November 4th. Stifel Nicolaus set a $16.00 price target on shares of Vertex in a research report on Wednesday. Piper Sandler decreased their price objective on Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research note on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.94.

Vertex Stock Performance

Shares of Vertex stock opened at $12.75 on Thursday. The business’s 50 day moving average price is $18.75 and its 200 day moving average price is $22.21. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 318.83, a PEG ratio of 1.45 and a beta of 0.59. 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 has a one year low of $11.96 and a one year high of $48.00.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The company had revenue of $194.71 million during the quarter, compared to analysts’ expectations of $194.33 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Vertex will post 0.38 EPS for the current year.

Vertex announced that its Board of Directors has authorized a share buyback plan on Monday, November 3rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Vertex

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Vertex in the 4th quarter valued at $801,000. Charles Schwab Investment Management Inc. increased its holdings in Vertex by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,064 shares of the company’s stock valued at $12,183,000 after buying an additional 13,617 shares during the last quarter. State Street Corp raised its stake in Vertex by 8.0% in the fourth quarter. State Street Corp now owns 1,849,171 shares of the company’s stock valued at $36,928,000 after buying an additional 136,656 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Vertex by 127.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,431 shares of the company’s stock valued at $5,640,000 after buying an additional 158,251 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Vertex by 58.9% during the 4th quarter. Wells Fargo & Company MN now owns 86,794 shares of the company’s stock worth $1,733,000 after buying an additional 32,158 shares during the last quarter. Institutional investors and hedge funds 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.