Vertex (NASDAQ:VERX) Trading 6% Higher - Still a Buy?

Key Points

• Vertex shares rose 6% in intraday trading, reaching as high as $13.15 after closing at $12.38, though volume was well below average.
• Analysts remain mixed on the stock: several firms raised price targets, but the overall consensus rating is still Hold with a consensus target price of $20.47.
• Vertex recently beat quarterly expectations, reporting $0.17 EPS versus $0.16 expected and revenue of $196.65 million, up 11.1% year over year.

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) traded up 6% during mid-day trading on Monday . The company traded as high as $13.15 and last traded at $13.12. Approximately 346,480 shares were traded during trading, a decline of 81% from the average daily volume of 1,832,369 shares. The stock had previously closed at $12.38.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price 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 lifted their price target on Vertex from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Morgan Stanley reissued an "overweight" rating and issued a $19.00 price objective on shares of Vertex in a research note on Friday, May 8th. Needham & Company LLC reaffirmed a "buy" rating on shares of Vertex in a research note on Monday, June 8th. Finally, Weiss Ratings lowered shares of Vertex from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.47.

Vertex Stock Up 6.1%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $14.29. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -262.46 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Vertex's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Vertex, Inc. will post 0.52 EPS for the current year.

Institutional Trading of Vertex

Several institutional investors have recently made changes to their positions in VERX. Jennison Associates LLC increased its position in shares of Vertex by 21.1% during the 4th 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 last quarter. Hyperion Capital Advisors LP acquired a new position in Vertex in the third quarter valued at about $13,387,000. Bamco Inc. NY purchased a new position in Vertex during the third quarter worth about $6,149,000. Granahan Investment Management LLC increased its position in shares of Vertex by 431.5% during the third quarter. Granahan Investment Management LLC now owns 289,309 shares of the company's stock valued at $7,172,000 after acquiring an additional 234,881 shares during the last quarter. Finally, Norris Perne & French LLP MI raised its stake in shares of Vertex by 26.1% in the 4th quarter. Norris Perne & French LLP MI now owns 259,854 shares of the company's stock valued at $5,189,000 after acquiring an additional 53,718 shares during the period. Hedge funds and other institutional investors 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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