Vertex (NASDAQ:VERX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Vertex (NASDAQ:VERX) from a buy rating to a hold rating in a research note published on Saturday morning.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets raised their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Vertex in a research note on Thursday, May 7th. Citigroup increased their price objective on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Finally, TD Cowen started coverage on Vertex in a research note on Monday, June 29th. They issued a “buy” rating and a $14.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.20.

Vertex Stock Up 9.0%

Shares of NASDAQ:VERX opened at $11.87 on Friday. The company has a market capitalization of $1.92 billion, a PE ratio of -237.40 and a beta of 0.83. Vertex has a 1 year low of $10.21 and a 1 year high of $35.25. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $12.46 and a two-hundred day moving average price of $13.79.

Vertex (NASDAQ:VERX) last issued its quarterly 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. The company had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Analysts forecast that Vertex will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Vertex

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Vertex by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock valued at $207,000 after buying an additional 753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vertex by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock valued at $2,933,000 after buying an additional 1,121 shares in the last quarter. Assetmark Inc. boosted its holdings in Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Vertex by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after buying an additional 1,383 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

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.