Vertex (NASDAQ:VERX) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Vertex (NASDAQ:VERX) issued its quarterly earnings results on Monday. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05), Zacks reports. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%.

Vertex Stock Up 3.8%

VERX traded up $0.49 during midday trading on Monday, hitting $13.40. 2,450,213 shares of the company’s stock traded hands, compared to its average volume of 1,886,509. 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 company has a market cap of $2.17 billion, a PE ratio of -268.00 and a beta of 0.83. Vertex has a one year low of $10.21 and a one year high of $33.54. The stock’s fifty day simple moving average is $12.42 and its 200-day simple moving average is $13.51.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VERX shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Vertex in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Vertex from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets lifted their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, DA Davidson set a $15.00 price target on Vertex in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vertex currently has an average rating of “Hold” and an average price target of $20.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VERX. Wasatch Advisors LP raised its holdings in Vertex by 9.2% during the third quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock valued at $67,640,000 after buying an additional 229,774 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Vertex by 76.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after acquiring an additional 937,905 shares during the last quarter. State Street Corp increased its holdings in shares of Vertex by 8.0% during the 4th quarter. State Street Corp now owns 1,849,171 shares of the company’s stock valued at $36,928,000 after acquiring an additional 136,656 shares during the last quarter. Park West Asset Management LLC raised its stake in shares of Vertex by 46.7% in the 4th quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company’s stock valued at $36,614,000 after acquiring an additional 583,428 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Vertex by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,792,864 shares of the company’s stock worth $35,810,000 after purchasing an additional 93,184 shares during the last quarter. 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.