Vertex (NASDAQ:VERX) Rating Increased to Strong-Buy at TD Cowen

Vertex (NASDAQ:VERX) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

VERX has been the subject of several other reports. Morgan Stanley restated an “overweight” rating and set a $19.00 price objective on shares of Vertex in a research report on Friday, May 8th. Jefferies Financial Group set a $14.00 target price on shares of Vertex in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Piper Sandler boosted their target price on shares of Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Citigroup lifted their price objective on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.47.

Vertex Stock Up 0.7%

Shares of VERX opened at $11.48 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Vertex has a 12 month low of $10.21 and a 12 month high of $36.75. The firm’s 50 day moving average is $12.61 and its 200-day moving average is $14.70. The stock has a market capitalization of $1.86 billion, a PE ratio of -229.60 and a beta of 0.82.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $196.65 million for 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Equities research analysts forecast that Vertex will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in Vertex during the 4th quarter valued at about $32,000. Empowered Funds LLC purchased a new stake in Vertex during the fourth quarter worth about $45,000. Raymond James Financial Inc. bought a new stake in shares of Vertex in the second quarter valued at $54,000. Advisors Asset Management Inc. raised its stake in Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock valued at $66,000 after acquiring an additional 895 shares during the period. Finally, Assetmark Inc. boosted its position in Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after purchasing an additional 1,376 shares during the period. Institutional investors and hedge funds 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.