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

Vertex, Inc. (NASDAQ:VERX) has earned an average rating of “Hold” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $23.0667.

A number of analysts have recently commented on the stock. Morgan Stanley set a $20.00 target price on shares of Vertex in a report on Thursday, February 12th. The Goldman Sachs Group dropped their price objective on shares of Vertex from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group cut shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Wednesday, February 11th. UBS Group set a $25.00 target price on shares of Vertex in a research note on Thursday, February 12th. Finally, Needham & Company LLC dropped their price target on Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th.

Vertex Stock Performance

Shares of VERX opened at $12.74 on Friday. The company has a 50-day simple moving average of $18.03 and a two-hundred day simple moving average of $21.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $2.03 billion, a PE ratio of 318.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.59. Vertex has a one year low of $11.96 and a one year high of $45.82.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $194.71 million for the quarter, compared to the consensus estimate of $194.33 million. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 EPS. On average, analysts anticipate that Vertex will post 0.38 EPS for the current fiscal year.

Vertex declared that its Board of Directors has initiated a share buyback plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Jeffrey Westphal bought 150,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the purchase, the insider owned 397,740 shares in the company, valued at approximately $4,983,682.20. The trade was a 60.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 43.25% of the company’s stock.

Hedge Funds Weigh In On Vertex

A number of hedge funds have recently bought and sold shares of VERX. DLD Asset Management LP bought a new stake in Vertex during the 2nd quarter valued at about $300,348,000. Wasatch Advisors LP purchased a new stake in shares of Vertex during the second quarter valued at approximately $88,293,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Vertex by 231.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock valued at $88,448,000 after buying an additional 2,490,097 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Vertex during the second quarter valued at approximately $60,381,000. Finally, Legacy Advisors LLC raised its holdings in Vertex by 2,730.1% in the 3rd quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,296,297 shares during the last quarter. Institutional investors 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.