Vertex (NASDAQ:VERX) Hits New 52-Week Low – Time to Sell?

Vertex, Inc. (NASDAQ:VERX) hit a new 52-week low on Wednesday . The stock traded as low as $15.69 and last traded at $15.87, with a volume of 5458635 shares trading hands. The stock had previously closed at $18.70.

Analyst Ratings Changes

Several analysts have recently commented on VERX shares. DA Davidson lowered their price objective on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. Jefferies Financial Group set a $28.00 price target on Vertex in a report on Monday, November 3rd. Citigroup lowered Vertex from a “market outperform” rating to a “hold” rating in a research report on Tuesday, November 4th. Robert W. Baird set a $25.00 price objective on Vertex in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a report on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Vertex Stock Down 15.1%

The stock has a 50-day moving average of $19.58 and a 200 day moving average of $23.27. The company has a market capitalization of $2.53 billion, a PE ratio of -45.34, a P/E/G ratio of 2.85 and a beta of 0.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.27.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The business had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $191.62 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its Board of Directors has authorized a share buyback program on Monday, November 3rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Vertex

A number of large investors have recently added to or reduced their stakes in the stock. Gagnon Securities LLC raised its holdings in shares of Vertex by 40.3% in the 3rd quarter. Gagnon Securities LLC now owns 378,685 shares of the company’s stock worth $9,388,000 after purchasing an additional 108,839 shares during the period. Massachusetts Financial Services Co. MA increased its position in Vertex by 231.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after buying an additional 2,490,097 shares during the last quarter. Bank of New York Mellon Corp increased its position in Vertex by 14.7% in the second quarter. Bank of New York Mellon Corp now owns 201,797 shares of the company’s stock worth $7,130,000 after buying an additional 25,812 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Vertex by 58.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 308,435 shares of the company’s stock valued at $10,899,000 after buying an additional 114,384 shares during the period. Finally, West Tower Group LLC purchased a new position in shares of Vertex during the 2nd quarter valued at $459,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.