Vertex, Inc. (NASDAQ:VERX) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analysts have given Vertex an average recommendation of "Hold" from 13 firms (1 sell, 7 hold, 5 buy) with an average 12‑month price target of $20.86, and several brokers recently trimmed targets (e.g., Jefferies to $16, Goldman to $23, BMO to $16).
• Vertex's most recent quarter beat or met expectations with EPS of $0.17 and revenue of $194.71 million (+9.1% year‑over‑year), and analysts forecast about $0.47 EPS for the current fiscal year.
• Significant insider buying occurred recently—insiders purchased 437,740 shares worth roughly $5.64 million (including Eric Andersen's 40,000 shares and Jeffrey Westphal's 150,000 shares)—bringing insider ownership to 43.25%.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $20.8571.

A number of equities analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Vertex from a "buy" rating to a "hold" rating and set a $16.00 target price for the company. in a research note on Wednesday, February 11th. The Goldman Sachs Group decreased their price target on Vertex from $26.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 12th. DA Davidson set a $13.00 price objective on Vertex in a research report on Thursday, February 12th. Morgan Stanley set a $20.00 target price on Vertex in a research report on Thursday, February 12th. Finally, BMO Capital Markets decreased their target price on Vertex from $22.00 to $16.00 and set a "market perform" rating for the company in a research note on Thursday, February 12th.

Vertex Price Performance

VERX stock opened at $12.27 on Thursday. The business's 50-day moving average is $12.81 and its two-hundred day moving average is $17.34. 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 firm has a market capitalization of $1.96 billion, a P/E ratio of 306.83 and a beta of 0.80. Vertex has a 1 year low of $10.59 and a 1 year high of $42.44.

Vertex (NASDAQ:VERX - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The firm had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Vertex will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric C. Andersen purchased 40,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the purchase, the director directly owned 150,341 shares of the company's stock, valued at $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Westphal purchased 150,000 shares of Vertex stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the transaction, the insider owned 397,740 shares of the company's stock, valued at $4,983,682.20. The trade was a 60.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 437,740 shares of company stock worth $5,636,339. 43.25% of the stock is owned by corporate insiders.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently made changes to their positions in VERX. Royal Bank of Canada grew its stake in Vertex by 36.3% during the 1st 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 during the last quarter. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock worth $68,000 after acquiring an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vertex by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company's stock valued at $2,869,000 after acquiring an additional 3,461 shares during the period. Prudential Financial Inc. increased its holdings in shares of Vertex by 92.1% in the 2nd quarter. Prudential Financial Inc. now owns 8,105 shares of the company's stock valued at $286,000 after acquiring an additional 3,885 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Vertex by 10,910.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company's stock valued at $479,000 after purchasing an additional 13,420 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.