DA Davidson Cuts Vertex (NASDAQ:VERX) Price Target to $12.00

Vertex (NASDAQ:VERX) had its price target decreased by DA Davidson from $15.00 to $12.00 in a report issued on Tuesday, MarketBeat Ratings reports. DA Davidson currently has a neutral rating on the stock.

VERX has been the topic of a number of other research reports. Piper Sandler increased their price target on Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Vertex from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Citigroup upped their price objective on shares of Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, BMO Capital Markets raised their target price on shares of Vertex from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vertex presently has an average rating of “Hold” and a consensus target price of $18.53.

Vertex Stock Performance

NASDAQ:VERX opened at $11.57 on Tuesday. The firm has a 50 day simple moving average of $12.37 and a 200-day simple moving average of $13.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $1.87 billion, a PE ratio of 578.79 and a beta of 0.83. Vertex has a 1-year low of $10.21 and a 1-year high of $28.86.

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 the consensus estimate of $0.19 by $0.01. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Vertex will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Vertex

A number of institutional investors have recently added to or reduced their stakes in VERX. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex in the first quarter valued at $37,796,000. Wasatch Advisors LP acquired a new position in Vertex during the 2nd quarter worth $88,293,000. Legacy Advisors LLC grew its stake in Vertex by 2,730.1% in the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock worth $33,312,000 after purchasing an additional 1,296,297 shares in the last quarter. Park West Asset Management LLC bought a new stake in Vertex in the third quarter valued at about $30,988,000. Finally, Wellington Management Group LLP increased its holdings in Vertex by 76.7% in the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after buying an additional 937,905 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.