Vertex (NASDAQ:VERX) Sets New 12-Month Low – Here’s What Happened

Vertex, Inc. (NASDAQ:VERX)’s share price hit a new 52-week low on Monday . The stock traded as low as $11.87 and last traded at $12.08, with a volume of 1494837 shares. The stock had previously closed at $12.74.

Analyst Ratings Changes

VERX has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. DA Davidson set a $13.00 target price on Vertex in a research note on Thursday, February 12th. Citigroup lowered their price target on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC cut their price objective on shares of Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Finally, BMO Capital Markets cut their target price on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Vertex presently has an average rating of “Hold” and an average target price of $23.07.

Vertex Price Performance

The firm has a market capitalization of $1.92 billion, a P/E ratio of 300.83, a price-to-earnings-growth ratio of 1.52 and a beta of 0.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average price of $18.03 and a 200-day moving average price of $21.46.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $194.71 million for the quarter, compared to the consensus estimate of $194.33 million. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Vertex declared that its board has approved a share repurchase program on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Vertex

In other news, insider Jeffrey Westphal acquired 150,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the purchase, the insider directly owned 397,740 shares in the company, valued at approximately $4,983,682.20. This trade represents a 60.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric C. Andersen bought 40,000 shares of the company’s stock in a transaction on Friday, February 20th. The shares were acquired at an average price of $12.91 per share, with a total value of $516,400.00. Following the transaction, the director directly owned 150,341 shares of the company’s stock, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 437,740 shares of company stock worth $5,636,339 over the last three months. 43.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vertex

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in shares of Vertex during the fourth quarter valued at $32,000. Empowered Funds LLC bought a new stake in Vertex during the 4th quarter valued at about $45,000. Raymond James Financial Inc. bought a new stake in Vertex during the 2nd quarter valued at about $54,000. Advisors Asset Management Inc. boosted its position in Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock valued at $66,000 after buying an additional 895 shares during the period. Finally, Assetmark Inc. grew its stake 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 acquiring an additional 1,376 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

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.