Brokerages Set Vertex, Inc. (NASDAQ:VERX) Target Price at $20.47

Vertex, Inc. (NASDAQ:VERX) has been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.20.

Several equities analysts have recently commented on VERX shares. Citigroup boosted their target price on shares of Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. TD Cowen began coverage on shares of Vertex in a research note on Monday, June 29th. They issued a “buy” rating and a $14.00 price target on the stock. Jefferies Financial Group set a $14.00 price objective on shares of Vertex in a report on Saturday, May 9th. Finally, DA Davidson set a $15.00 target price on Vertex in a report on Friday, May 8th.

Vertex Trading Up 0.7%

NASDAQ:VERX opened at $12.89 on Tuesday. 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 company has a market cap of $2.09 billion, a PE ratio of -257.80 and a beta of 0.83. The company has a 50 day simple moving average of $12.57 and a two-hundred day simple moving average of $13.98.

Vertex (NASDAQ:VERX) last released its quarterly earnings results 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 firm had revenue of $196.65 million for the quarter, compared to analysts’ expectations of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. Research analysts forecast that Vertex will post 0.52 earnings per share for the current year.

Institutional Trading of Vertex

A number of large investors have recently added to or reduced their stakes in VERX. Jennison Associates LLC increased its position in shares of 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 acquiring an additional 172,692 shares during the period. Hyperion Capital Advisors LP purchased a new stake in shares of Vertex in the third quarter valued at approximately $13,387,000. Bamco Inc. NY purchased a new stake in shares of Vertex in the third quarter valued at approximately $6,149,000. Granahan Investment Management LLC grew its stake in Vertex by 431.5% in the third quarter. Granahan Investment Management LLC now owns 289,309 shares of the company’s stock worth $7,172,000 after purchasing an additional 234,881 shares in the last quarter. Finally, Norris Perne & French LLP MI grew its stake in Vertex by 26.1% in the fourth quarter. Norris Perne & French LLP MI now owns 259,854 shares of the company’s stock worth $5,189,000 after purchasing an additional 53,718 shares in the last quarter. 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.