Vertex (NASDAQ:VERX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Vertex from “hold” to “buy,” while broader analyst sentiment remains “Hold,” with seven Buy, seven Hold and one Sell rating and an average price target of $17.43.
• Vertex shares opened at $11.94, up 3.2%, with a market capitalization of approximately $1.93 billion. The stock remains well below its 12-month high of $27.80.
• The company reported quarterly EPS of $0.20, beating expectations by $0.01, while revenue rose 10.5% year over year to $203.97 million. Institutional investors and hedge funds own about 70.32% of the stock.

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

A number of other analysts also recently weighed in on VERX. Morgan Stanley reiterated an "equal weight" rating and set a $15.00 target price (down from $19.00) on shares of Vertex in a research report on Tuesday, July 21st. Robert W. Baird decreased their price target on Vertex from $19.00 to $17.00 and set an "outperform" rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating on shares of Vertex in a research note on Monday, June 8th. Piper Sandler upped their price objective on shares of Vertex from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Vertex from a "sell (e+)" rating to a "sell (d)" rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $17.43.

Vertex Stock Up 3.2%

Shares of VERX opened at $11.94 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.40. Vertex has a 12 month low of $10.21 and a 12 month high of $27.80. The firm's 50 day moving average is $12.34 and its 200-day moving average is $13.30. The stock has a market capitalization of $1.93 billion, a PE ratio of 597.30 and a beta of 0.83.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $203.97 million during the quarter, compared to analysts' expectations of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The firm'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 company posted $0.15 earnings per share. Equities research analysts forecast that Vertex will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently made changes to their positions in VERX. Raymond James Financial Inc. acquired a new position in Vertex during the 2nd quarter worth approximately $54,000. Global Retirement Partners LLC acquired a new stake in Vertex in the fourth quarter valued at approximately $32,000. Advisors Asset Management Inc. boosted its position in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after buying an additional 395 shares in the last quarter. Empowered Funds LLC acquired a new stake in Vertex in the fourth quarter valued at approximately $45,000. Finally, Assetmark Inc. grew its stake in shares of Vertex by 49.1% during the fourth 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. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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