Vertex (NASDAQ:VERX) Announces Quarterly Earnings Results

Key Points

• Vertex reported quarterly EPS of $0.14, missing analysts’ consensus estimate of $0.19 by $0.05. The company posted a negative net margin of 0.84% and a 26.04% return on equity.
• Shares rose $0.49 to $13.40 in mid-day trading, while the stock’s market capitalization stood at approximately $2.17 billion. Vertex has traded between $10.21 and $33.54 over the past year.
• Institutional investors own 70.32% of Vertex. Analysts maintain a consensus “Hold” rating, with an average price target of $20.20, reflecting mixed views that include seven Buy, seven Hold and one Sell rating.

Vertex (NASDAQ:VERX - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05), Zacks reports. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%.

Vertex Stock Performance

Shares of NASDAQ VERX traded up $0.49 during mid-day trading on Monday, reaching $13.40. 2,450,117 shares of the company were exchanged, compared to its average volume of 1,886,504. The company's 50-day simple moving average is $12.42 and its 200-day simple moving average is $13.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2.17 billion, a P/E ratio of -268.00 and a beta of 0.83. Vertex has a twelve month low of $10.21 and a twelve month high of $33.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its position in 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. Victory Capital Management Inc. increased its stake in shares of Vertex by 9.9% during the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company's stock worth $207,000 after purchasing an additional 753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Vertex by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company's stock worth $2,933,000 after purchasing an additional 1,121 shares during the last quarter. California State Teachers Retirement System boosted its stake in Vertex by 2.2% in the 2nd 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. Finally, Raymond James Financial Inc. bought a new stake in Vertex in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a report on Saturday, May 9th. Weiss Ratings cut shares of Vertex from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 11th. Piper Sandler upped their target price on Vertex from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. TD Cowen initiated coverage on Vertex in a research report on Monday, June 29th. They set a "buy" rating and a $14.00 price target for the company. Finally, Wall Street Zen cut Vertex from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.20.

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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