Vertex (NASDAQ:VERX) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Vertex from a “buy” to a “hold” rating, adding to a mixed analyst outlook on the stock.
• Other firms have recently adjusted their views: BMO Capital Markets raised its target to $17 with an “outperform” rating, while several others issued “neutral” or “hold” calls. Overall, Vertex now has an average analyst rating of Hold and an average price target of $20.20.
• Vertex recently reported quarterly EPS of $0.17 on revenue of $196.65 million, both slightly above expectations, with revenue up 11.1% year over year. The stock opened at $11.87, well below its 52-week high of $35.25.

Vertex (NASDAQ:VERX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities research analysts have also issued reports about the company. BMO Capital Markets increased their price target on Vertex from $14.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Piper Sandler lifted their price objective on shares of Vertex from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. The Goldman Sachs Group reiterated a "buy" rating and issued a $21.00 target price on shares of Vertex in a research note on Thursday, May 7th. DA Davidson set a $15.00 target price on shares of Vertex in a report on Friday, May 8th. Finally, Citigroup raised their price target on shares of Vertex from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Seven investment 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.20.

Vertex Price Performance

Shares of NASDAQ VERX opened at $11.87 on Friday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -237.40 and a beta of 0.83. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. Vertex has a fifty-two week low of $10.21 and a fifty-two week high of $35.25. The firm's 50-day simple moving average is $12.46 and its 200 day simple moving average is $13.79.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. As a group, research analysts anticipate that Vertex will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VERX. Global Retirement Partners LLC bought a new position in Vertex in the 4th quarter valued at $32,000. Empowered Funds LLC bought a new stake in shares of Vertex during the 4th quarter worth $45,000. Raymond James Financial Inc. bought a new stake in shares of Vertex during the 2nd quarter worth $54,000. Advisors Asset Management Inc. boosted its holdings in shares of Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company's stock worth $66,000 after buying an additional 895 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company's stock worth $83,000 after buying an additional 1,376 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.

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.