Vertex (NASDAQ:VERX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Vertex (NASDAQ:VERX) from a buy rating to a hold rating in a report released on Saturday.

VERX has been the topic of several other research reports. DA Davidson set a $15.00 price objective on shares of Vertex in a research note on Friday, May 8th. Citigroup raised their target price on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. Weiss Ratings lowered Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets increased their price target on Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.20.

Vertex Stock Up 6.5%

NASDAQ:VERX opened at $12.64 on Friday. The firm’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $13.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. Vertex has a one year low of $10.21 and a one year high of $34.67. The company has a market cap of $2.05 billion, a PE ratio of -252.80 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. During the same period in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Vertex will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Vertex

Several large investors have recently modified their holdings of VERX. Global Retirement Partners LLC acquired a new position in Vertex in the fourth quarter valued at $32,000. Empowered Funds LLC acquired a new stake in Vertex during the 4th quarter worth about $45,000. Raymond James Financial Inc. acquired a new stake in Vertex during the 2nd quarter worth about $54,000. Advisors Asset Management Inc. grew its holdings in Vertex by 36.9% during the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after acquiring an additional 895 shares during the period. Finally, Assetmark Inc. raised its position in shares of Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.