Vertex, Inc. (NASDAQ:VERX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Vertex, with seven buys, seven holds and one sell among 15 analysts. The average 12-month price target is $17.43.
• Vertex’s latest quarterly results slightly exceeded expectations, reporting $0.20 EPS versus a $0.19 estimate and $203.97 million in revenue versus $202.21 million expected; revenue increased 10.5% year over year.
• VERX opened at $11.94, near the lower end of its $10.21–$27.80 52-week range, while institutional investors own approximately 70.32% of the company.

Vertex, Inc. (NASDAQ:VERX - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $17.4286.

VERX has been the topic of several analyst reports. TD Cowen started coverage on shares of Vertex in a research note on Monday, June 29th. They issued a "buy" rating and a $14.00 price objective on the stock. Piper Sandler upped their price target on Vertex from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. BMO Capital Markets increased their price target on Vertex from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday. Weiss Ratings raised Vertex from a "sell (e+)" rating to a "sell (d)" rating in a research note on Wednesday. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $15.00 target price (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st.

Vertex Stock Up 3.2%

NASDAQ:VERX opened at $11.94 on Friday. The firm's 50 day simple moving average is $12.34 and its 200 day simple moving average is $13.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.86. Vertex has a one year low of $10.21 and a one year high of $27.80. The company has a market cap of $1.93 billion, a PE ratio of 597.30 and a beta of 0.83.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The firm had revenue of $203.97 million for the quarter, compared to analyst estimates of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. On average, research analysts anticipate that Vertex will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VERX. Advisors Asset Management Inc. boosted its holdings in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock worth $68,000 after buying an additional 395 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company's stock worth $207,000 after buying an additional 753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Vertex by 1.4% in the 2nd 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. increased its stake in shares of Vertex by 49.1% in the 4th 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 lifted its position in shares of Vertex by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company's stock valued at $2,226,000 after acquiring an additional 1,383 shares during the period. 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.

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