Vertex, Inc. (NASDAQ:VERX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Vertex, Inc. (NASDAQ:VERX) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $32.60.

VERX has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price objective on shares of Vertex from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Citigroup lowered shares of Vertex from a “market outperform” rating to a “hold” rating in a research note on Tuesday, November 4th. JMP Securities set a $37.00 price target on shares of Vertex in a research note on Tuesday, November 4th. Stephens started coverage on Vertex in a research report on Friday, September 26th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, DA Davidson reduced their target price on Vertex from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 4th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in Vertex by 31.0% in the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after purchasing an additional 347 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Vertex in the 2nd quarter worth approximately $54,000. Blue Trust Inc. grew its stake in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after buying an additional 512 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after buying an additional 395 shares during the last quarter. Finally, State of Wyoming increased its position in Vertex by 16.1% during the 1st quarter. State of Wyoming now owns 4,669 shares of the company’s stock valued at $163,000 after buying an additional 649 shares in the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Stock Down 0.3%

NASDAQ VERX opened at $19.97 on Friday. Vertex has a 1 year low of $18.54 and a 1 year high of $60.71. The stock has a market capitalization of $3.19 billion, a PE ratio of -57.06, a PEG ratio of 4.05 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $20.37 and its 200 day moving average is $26.01.

Vertex (NASDAQ:VERX) last released 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 during the quarter, compared to analysts’ expectations of $191.62 million. During the same quarter last year, the business posted $0.16 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts forecast that Vertex will post 0.38 earnings per share for the current year.

Vertex announced that its Board of Directors has approved a share buyback plan on Monday, November 3rd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.