Vertex, Inc. (NASDAQ:VERX) Given Average Recommendation of “Hold” by Analysts

Vertex, Inc. (NASDAQ:VERX) has been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.4286.

VERX has been the topic of several analyst reports. Stephens lowered their price target on shares of Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings raised shares of Vertex from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. Robert W. Baird reduced their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. TD Cowen started coverage on shares of Vertex in a research report on Monday, June 29th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, DA Davidson lowered their target price on shares of Vertex from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th.

Hedge Funds Weigh In On Vertex

Several large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new position in shares of Vertex in the second quarter worth about $2,182,000. Corient Private Wealth LP bought a new stake in Vertex during the 2nd quarter valued at approximately $1,766,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Vertex during the 2nd quarter valued at approximately $468,000. California State Teachers Retirement System lifted its holdings in Vertex by 1,294.3% in the 2nd quarter. California State Teachers Retirement System now owns 951,876 shares of the company’s stock worth $10,928,000 after purchasing an additional 883,609 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Vertex in the 2nd quarter worth approximately $166,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Price Performance

NASDAQ VERX opened at $13.77 on Wednesday. The stock’s 50-day moving average price is $12.82 and its 200-day moving average price is $12.78. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40. Vertex has a 52 week low of $10.21 and a 52 week high of $26.54. The company has a market capitalization of $2.23 billion, a P/E ratio of 688.84 and a beta of 0.83.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. On average, equities research analysts predict that Vertex will post 0.54 earnings per share for the current year.

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.