North Star Asset Management Inc. Purchases New Position in Vertex, Inc. $VERX

North Star Asset Management Inc. acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 252,542 shares of the company’s stock, valued at approximately $2,899,000.

Other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex in the first quarter worth $37,796,000. Wasatch Advisors LP grew its holdings in shares of Vertex by 9.2% in the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock valued at $67,640,000 after buying an additional 229,774 shares during the period. Wellington Management Group LLP increased its position in shares of Vertex by 76.7% in the 3rd 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 in the last quarter. State Street Corp increased its position in shares of Vertex by 8.0% in the 4th 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. Finally, Park West Asset Management LLC raised its stake in Vertex by 46.7% during the 4th quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company’s stock worth $36,614,000 after buying an additional 583,428 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on VERX. TD Cowen assumed coverage on Vertex in a report on Monday, June 29th. They set a “buy” rating and a $14.00 target price on the stock. 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 raised their price target on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Jefferies Financial Group set a $14.00 price objective on Vertex in a report on Saturday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.43.

Vertex Stock Up 5.5%

Shares of VERX stock opened at $14.30 on Friday. Vertex, Inc. has a 12-month low of $10.21 and a 12-month high of $26.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.40. The firm has a fifty day moving average of $12.47 and a 200-day moving average of $12.76. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 715.36 and a beta of 0.83.

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