Vertex, Inc. (NASDAQ:VERX) Receives $23.94 Average PT from Analysts

Vertex, Inc. (NASDAQ:VERX) has earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.9375.

A number of equities research analysts recently issued reports on the stock. DA Davidson set a $13.00 price objective on shares of Vertex in a report on Thursday. UBS Group set a $25.00 price target on Vertex in a research report on Thursday. Citizens Jmp decreased their price target on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Piper Sandler cut their price objective on Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Finally, BMO Capital Markets reduced their target price on Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in Vertex during the fourth quarter valued at about $1,641,000. Fieldview Capital Management LLC acquired a new position in shares of Vertex during the 4th quarter worth about $471,000. Headlands Technologies LLC bought a new stake in Vertex during the 4th quarter valued at approximately $801,000. Charles Schwab Investment Management Inc. grew its holdings in Vertex by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,064 shares of the company’s stock valued at $12,183,000 after buying an additional 13,617 shares during the last quarter. Finally, State Street Corp grew its holdings in Vertex by 8.0% in the 4th quarter. State Street Corp now owns 1,849,171 shares of the company’s stock valued at $36,928,000 after buying an additional 136,656 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Up 3.1%

VERX opened at $12.75 on Friday. The company has a market capitalization of $2.03 billion, a PE ratio of 318.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. Vertex has a fifty-two week low of $11.96 and a fifty-two week high of $48.00. The business has a 50-day moving average of $18.61 and a 200-day moving average of $21.99.

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

Vertex announced that its Board of Directors has authorized a share buyback program on Monday, November 3rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.