Vertex, Inc. (NASDAQ:VERX) Given Average Recommendation of “Hold” by Analysts

Vertex, Inc. (NASDAQ:VERX) has received an average recommendation of “Hold” from the fifteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.4667.

Several equities research analysts have issued reports on VERX shares. BMO Capital Markets raised their price target on Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating and issued a $19.00 price objective on shares of Vertex in a research report on Friday, May 8th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 target price on shares of Vertex in a research note on Thursday, May 7th. Citigroup lifted their target price on shares of Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th.

Hedge Funds Weigh In On Vertex

Institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Vertex during the 1st quarter worth approximately $37,796,000. Wasatch Advisors LP acquired a new stake in shares of Vertex in the second quarter valued at approximately $88,293,000. Legacy Advisors LLC raised its position in shares of Vertex by 2,730.1% in the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after buying an additional 1,296,297 shares in the last quarter. Park West Asset Management LLC bought a new stake in shares of Vertex in the third quarter valued at approximately $30,988,000. Finally, Wellington Management Group LLP boosted its stake in shares of 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 period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Price Performance

NASDAQ:VERX opened at $12.80 on Tuesday. Vertex has a 12-month low of $10.21 and a 12-month high of $36.75. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -256.00 and a beta of 0.83. The stock’s 50 day moving average price is $12.59 and its two-hundred day moving average price is $14.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37.

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