Vertex (NASDAQ:VERX) Shares Down 5.8% - What's Next?

Key Points

• Vertex shares fell 5.8% in mid-day trading, dropping to as low as $11.86 before last trading at $11.57, on volume far below average.
• Analysts remain mixed on the stock, with multiple firms setting price targets between $14 and $17 and the overall consensus still at “Hold” with a $20.20 target.
• The company recently beat quarterly earnings expectations, reporting $0.17 EPS on revenue of $196.65 million, while revenue rose 11.1% year over year.

Vertex, Inc. (NASDAQ:VERX - Get Free Report)'s share price fell 5.8% during mid-day trading on Wednesday . The stock traded as low as $11.86 and last traded at $11.57. 222,322 shares traded hands during trading, a decline of 88% from the average session volume of 1,828,455 shares. The stock had previously closed at $12.28.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen initiated coverage on Vertex in a research note on Monday, June 29th. They set a "buy" rating and a $14.00 price objective on the stock. Jefferies Financial Group set a $14.00 target price on shares of Vertex in a research note on Saturday, May 9th. Citigroup upped their target price on shares of Vertex from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. DA Davidson set a $15.00 price target on shares of Vertex in a research report on Friday, May 8th. Finally, BMO Capital Markets boosted their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.20.

Vertex Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The business's fifty day moving average is $12.54 and its 200 day moving average is $13.93. The company has a market cap of $1.81 billion, a P/E ratio of -224.42 and a beta of 0.83.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The business 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%.Vertex's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, sell-side analysts anticipate that Vertex, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Vertex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Vertex by 21.1% during the fourth quarter. Jennison Associates LLC now owns 991,820 shares of the company's stock worth $19,807,000 after purchasing an additional 172,692 shares during the period. Norris Perne & French LLP MI raised its position in shares of Vertex by 26.1% in the fourth quarter. Norris Perne & French LLP MI now owns 259,854 shares of the company's stock valued at $5,189,000 after purchasing an additional 53,718 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Vertex by 42.2% during the 4th quarter. William Blair Investment Management LLC now owns 1,215,172 shares of the company's stock valued at $24,267,000 after buying an additional 360,791 shares in the last quarter. Hyperion Capital Advisors LP lifted its stake in shares of Vertex by 20.4% during the 4th quarter. Hyperion Capital Advisors LP now owns 650,000 shares of the company's stock valued at $12,980,000 after buying an additional 110,000 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. boosted its holdings in Vertex by 57.1% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 110,000 shares of the company's stock worth $2,196,000 after buying an additional 40,000 shares during the period. 70.32% of the stock is currently owned by institutional investors.

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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