Vertex (NASDAQ:VERX) Trading Down 6.3% - Here's Why

Key Points

• Vertex shares fell 6.3% to approximately $12.91, with trading volume down 95% from the stock’s average daily volume.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy, seven Hold, and one Sell. The consensus rating is Hold, with an average price target of $17.43.
• Vertex exceeded quarterly expectations, reporting $0.20 in EPS versus a $0.19 consensus estimate and $203.97 million in revenue, up 10.5% year over year.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) were down 6.3% on Tuesday . The company traded as low as $12.84 and last traded at $12.9050. 94,880 shares were traded during trading, a decline of 95% from the average daily volume of 1,910,310 shares. The stock had previously closed at $13.77.

Wall Street Analyst Weigh In

VERX has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Vertex from a "sell (e+)" rating to a "sell (d)" rating in a report on Wednesday, August 5th. BMO Capital Markets upped their target price on shares of Vertex from $14.00 to $15.00 and gave the stock a "market perform" rating in a report on Tuesday, August 4th. Stephens lowered their target price on shares of Vertex from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. Needham & Company LLC reissued a "buy" rating on shares of Vertex in a report on Monday, June 8th. Finally, DA Davidson reduced their price target on shares of Vertex from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.43.

Vertex Trading Down 6.8%

The stock has a market cap of $2.08 billion, a PE ratio of 642.47 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.40. The firm has a fifty day simple moving average of $12.87 and a two-hundred day simple moving average of $12.79.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to analyst estimates of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.Vertex's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. As a group, equities analysts expect that Vertex, Inc. will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently bought and sold shares of VERX. Royal Bank of Canada raised its position in shares of Vertex by 36.3% during the 1st quarter. Royal Bank of Canada now owns 180,978 shares of the company's stock valued at $6,336,000 after buying an additional 48,181 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Vertex by 25.7% in the first 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. raised its position in Vertex by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company's stock valued at $2,869,000 after purchasing an additional 3,461 shares in the last quarter. Prudential Financial Inc. raised its position in Vertex by 92.1% during the second quarter. Prudential Financial Inc. now owns 8,105 shares of the company's stock valued at $286,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Vertex by 10,910.6% during the second quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company's stock worth $479,000 after purchasing an additional 13,420 shares during the last quarter. Hedge funds and other 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.

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