Vertex (NASDAQ:VERX) Reaches New 52-Week Low – Time to Sell?

Vertex, Inc. (NASDAQ:VERX) reached a new 52-week low during trading on Wednesday . The company traded as low as $18.47 and last traded at $18.55, with a volume of 764705 shares. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VERX. Stephens began coverage on shares of Vertex in a report on Friday, September 26th. They set an “overweight” rating and a $30.00 price objective for the company. Robert W. Baird set a $25.00 price target on shares of Vertex in a research note on Tuesday, November 4th. DA Davidson lowered their price target on Vertex from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Jefferies Financial Group set a $28.00 price objective on Vertex in a research note on Monday, November 3rd. Finally, Piper Sandler reduced their price objective on Vertex from $42.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Vertex presently has a consensus rating of “Moderate Buy” and an average price target of $32.40.

Vertex Stock Down 1.8%

The business has a 50 day moving average of $19.79 and a two-hundred day moving average of $24.45. The stock has a market capitalization of $2.98 billion, a PE ratio of -53.31, a PEG ratio of 2.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01.

Vertex (NASDAQ:VERX) last announced its earnings results on Monday, November 3rd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The business had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex announced that its board has approved a share buyback plan on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Vertex

A number of institutional investors have recently made changes to their positions in VERX. Fifth Third Bancorp increased its holdings in shares of Vertex by 31.0% during the second quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after acquiring an additional 347 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 395 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after buying an additional 512 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Vertex by 0.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock valued at $3,456,000 after acquiring an additional 564 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Vertex by 5.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock valued at $296,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds 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.