Vertex, Inc. (NASDAQ:VERX) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Vertex, Inc. received an average analyst rating of "Hold" from 15 brokerages, though the mix is fairly split with eight buys, six holds, and one sell. The average 1-year price target among updated analysts is about $20.47.
• Several firms recently adjusted their views on VERX, including Piper Sandler and Citigroup lifting price targets to $16, while Morgan Stanley kept an overweight rating with a $19 target. Wall Street Zen also upgraded the stock from hold to buy.
• Vertex shares were up 4.8% to $12.98, and the company reported quarterly earnings of $0.17 per share, topping estimates and growing revenue 11.1% year over year to $196.65 million.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have been given an average recommendation of "Hold" by the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.4667.

Several research firms recently issued reports on VERX. Piper Sandler boosted their price objective on Vertex from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Citigroup raised their target price on Vertex from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Wall Street Zen raised Vertex from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Jefferies Financial Group set a $14.00 price target on shares of Vertex in a research note on Saturday, May 9th. Finally, Morgan Stanley reissued an "overweight" rating and set a $19.00 price target on shares of Vertex in a research report on Friday, May 8th.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently added to or reduced their stakes in VERX. Advisors Asset Management Inc. boosted its position 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 buying an additional 395 shares during the period. Victory Capital Management Inc. raised its stake in shares of Vertex by 9.9% in the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company's stock valued at $207,000 after acquiring an additional 753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Vertex by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company's stock valued at $2,933,000 after acquiring an additional 1,121 shares in the last quarter. Assetmark Inc. raised its stake in shares of Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company's stock valued at $83,000 after acquiring an additional 1,376 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Vertex by 2.2% in the second quarter. California State Teachers Retirement System now owns 63,009 shares of the company's stock valued at $2,226,000 after purchasing an additional 1,383 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Up 4.8%

Shares of NASDAQ:VERX opened at $12.98 on Tuesday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -259.60 and a beta of 0.83. Vertex has a 12-month low of $10.21 and a 12-month high of $36.75. The business has a 50-day moving average price of $12.68 and a 200 day moving average price of $14.24. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The company had revenue of $196.65 million for the quarter, compared to analysts' expectations of $194.82 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Vertex's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Vertex will post 0.52 EPS for the current year.

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.

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