Vertex, Inc. (NASDAQ:VERX) Receives Average Rating of “Hold” from Analysts

Vertex, Inc. (NASDAQ:VERX) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.7143.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Citigroup decreased their price objective on Vertex from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Piper Sandler decreased their price objective on Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Citizens Jmp decreased their price objective on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Finally, Needham & Company LLC decreased their price objective on Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th.

Insider Activity

In other Vertex news, insider Jeffrey Westphal bought 247,740 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were acquired at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the transaction, the insider owned 247,740 shares of the company’s stock, valued at approximately $3,240,439.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric C. Andersen bought 40,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the transaction, the director directly owned 150,341 shares in the company, valued at approximately $1,940,902.31. This represents a 36.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 437,740 shares of company stock valued at $5,636,339 in the last quarter. Company insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Vertex

Several hedge funds and other institutional investors have recently made changes to their positions in VERX. Raymond James Financial Inc. purchased a new position in shares of Vertex in the 2nd quarter valued at approximately $54,000. Global Retirement Partners LLC purchased a new position in shares of Vertex in the 4th quarter valued at approximately $32,000. Advisors Asset Management Inc. grew its stake in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Vertex in the 4th quarter valued at approximately $45,000. Finally, Assetmark Inc. grew its stake in shares of Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after purchasing an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Performance

Shares of Vertex stock opened at $12.65 on Thursday. The business has a 50-day moving average of $12.83 and a 200 day moving average of $17.04. Vertex has a 12 month low of $10.59 and a 12 month high of $42.44. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 316.43 and a beta of 0.81. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.98 and a quick ratio of 0.98.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $194.71 million during the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a return on equity of 24.70% and a net margin of 0.96%.Vertex’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. As a group, sell-side analysts forecast that Vertex will post 0.47 earnings per share for the current year.

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.