Vertex Energy Inc. (VTNR) Stock Rating Upgraded by Zacks Investment Research
Vertex Energy Inc. (NASDAQ:VTNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $1.25 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 26.39% from the company’s previous close.
According to Zacks, “Vertex Energy, Inc. operates as an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex operates in three divisions: Black Oil Division, Refining and Marketing Division and Thermal Chemical Extraction Process. The Company also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as end products. It sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. Vertex Energy, Inc. is based in Houston, Texas. “
Separately, Roth Capital began coverage on Vertex Energy in a report on Tuesday, October 4th. They issued a “neutral” rating and a $1.40 target price for the company.
Vertex Energy (NASDAQ:VTNR) opened at 0.989 on Wednesday. The stock’s 50 day moving average is $1.07 and its 200 day moving average is $1.27. The firm’s market cap is $30.67 million. Vertex Energy has a one year low of $0.63 and a one year high of $2.21.
Vertex Energy (NASDAQ:VTNR) last posted its earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Vertex Energy had a negative return on equity of 24.65% and a negative net margin of 6.29%. The firm earned $28.50 million during the quarter, compared to analyst estimates of $26.13 million. On average, equities research analysts expect that Vertex Energy will post ($0.38) earnings per share for the current year.
A hedge fund recently raised its stake in Vertex Energy stock. Redmond Asset Management LLC increased its position in shares of Vertex Energy Inc. (NASDAQ:VTNR) by 1.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 692,960 shares of the company’s stock after buying an additional 7,500 shares during the period. Redmond Asset Management LLC owned approximately 2.33% of Vertex Energy worth $922,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 23.22% of the company’s stock.
Vertex Energy Company Profile
Vertex Energy, Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions.
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