Vertex, Inc. (NASDAQ:VERX) Given Average Recommendation of “Hold” by Analysts

Vertex, Inc. (NASDAQ:VERX) has been given a consensus rating of “Hold” by the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $23.0667.

Several equities analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Wednesday, February 11th. UBS Group set a $25.00 price target on shares of Vertex in a research report on Thursday, February 12th. Stifel Nicolaus set a $16.00 price target on shares of Vertex in a research note on Wednesday, February 11th. DA Davidson set a $13.00 price objective on Vertex in a report on Thursday, February 12th. Finally, Piper Sandler cut their price objective on Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th.

Vertex Trading Down 3.2%

Shares of VERX stock opened at $13.30 on Wednesday. Vertex has a 1-year low of $11.86 and a 1-year high of $42.44. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 332.58, a PEG ratio of 1.58 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50 day simple moving average of $16.29 and a 200-day simple moving average of $20.25.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, equities research analysts expect that Vertex will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Westphal purchased 150,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $4,983,682.20. The trade was a 60.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eric C. Andersen purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the transaction, the director directly owned 150,341 shares of the company’s stock, valued at $1,940,902.31. This represents a 36.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 437,740 shares of company stock worth $5,636,339 over the last ninety days. Corporate insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Vertex

Large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Vertex by 36.3% in the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock worth $6,336,000 after buying an additional 48,181 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vertex by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock worth $2,869,000 after purchasing an additional 3,461 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Vertex by 6.5% in the second quarter. Teacher Retirement System of Texas now owns 10,310 shares of the company’s stock valued at $364,000 after purchasing an additional 630 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Vertex by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,797 shares of the company’s stock worth $7,130,000 after acquiring an additional 25,812 shares during the last quarter. Hedge funds and other 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.