Vertex (NASDAQ:VERX) Sets New 1-Year Low – Time to Sell?

Vertex, Inc. (NASDAQ:VERX) shares reached a new 52-week low on Wednesday . The company traded as low as $15.69 and last traded at $15.87, with a volume of 5458635 shares traded. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group set a $25.00 price target on shares of Vertex in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a research report on Wednesday, January 21st. Needham & Company LLC reduced their price target on Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Citizens Jmp decreased their price target on Vertex from $50.00 to $37.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 4th. Finally, Piper Sandler lowered Vertex from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $20.00 in a research note on Monday. Eleven analysts have rated the stock with a Buy rating, five have issued 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 “Moderate Buy” and a consensus price target of $31.60.

Vertex Stock Up 5.2%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $2.51 billion, a P/E ratio of -44.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.59. The firm’s 50 day moving average price is $19.41 and its two-hundred day moving average price is $23.16.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex announced that its Board of Directors has approved a stock repurchase program on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Vertex during the fourth quarter valued at about $32,000. Raymond James Financial Inc. bought a new stake in Vertex in the second quarter worth about $54,000. Blue Trust Inc. boosted its stake in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares during the period. Finally, Assetmark Inc. increased its stake 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 purchasing an additional 1,376 shares during the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

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.