Vertex (NASDAQ:VERX) Price Target Raised to $16.00 at Piper Sandler

Vertex (NASDAQ:VERX) had its price objective raised by Piper Sandler from $14.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently weighed in on VERX. Citigroup lowered their target price on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus set a $16.00 target price on shares of Vertex in a report on Wednesday, February 11th. UBS Group set a $25.00 target price on shares of Vertex in a report on Thursday, February 12th. Citizens Jmp lowered their target price on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Finally, DA Davidson set a $13.00 price objective on shares of Vertex in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Vertex has a consensus rating of “Hold” and an average price target of $20.71.

Vertex Price Performance

Shares of VERX opened at $14.67 on Thursday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 366.84 and a beta of 0.81. Vertex has a 1-year low of $10.59 and a 1-year high of $42.44. The company’s fifty day simple moving average is $12.86 and its 200 day simple moving average is $16.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, research analysts forecast that Vertex will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Vertex

In other Vertex news, insider Jeffrey Westphal bought 150,000 shares of Vertex stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the transaction, the insider owned 397,740 shares in the company, valued at $4,983,682.20. The trade was a 60.55% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric C. Andersen bought 40,000 shares of Vertex stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $12.91 per share, with a total value of $516,400.00. Following the transaction, the director owned 150,341 shares of the company’s stock, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 437,740 shares of company stock valued at $5,636,339. 43.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex

A number of institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of 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 acquiring an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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. Verdence Capital Advisors LLC lifted its position in Vertex by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 11,538 shares of the company’s stock worth $296,000 after purchasing an additional 600 shares during the period. Victory Capital Management Inc. lifted its position in Vertex by 9.9% during the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after purchasing an additional 753 shares during the period. Finally, AlphaQuest LLC lifted its position in Vertex by 10.4% during the third quarter. AlphaQuest LLC now owns 10,732 shares of the company’s stock worth $266,000 after purchasing an additional 1,014 shares during the period. 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.