Vertex (NASDAQ:VERX) Sets New 1-Year Low – Time to Sell?

Vertex, Inc. (NASDAQ:VERX) shares reached a new 52-week low on Thursday . The stock traded as low as $18.16 and last traded at $18.31, with a volume of 507156 shares. The stock had previously closed at $19.77.

Analysts Set New Price Targets

VERX has been the topic of a number of analyst reports. Jefferies Financial Group set a $28.00 target price on shares of Vertex in a report on Monday, November 3rd. Needham & Company LLC lowered their price objective on Vertex from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. UBS Group restated a “market outperform” rating on shares of Vertex in a report on Tuesday, November 4th. Piper Sandler decreased their price target on Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Finally, Citizens Jmp lowered their price target on Vertex from $50.00 to $37.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Vertex Price Performance

The stock has a market cap of $2.93 billion, a P/E ratio of -52.20, a P/E/G ratio of 2.94 and a beta of 0.60. The business has a 50 day simple moving average of $19.72 and a 200-day simple moving average of $23.85. 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 released 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. The company had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, sell-side analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex declared that its board has authorized a share buyback plan on Monday, November 3rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Vertex

Several institutional investors have recently bought and sold shares of VERX. Fifth Third Bancorp grew its holdings in 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 purchasing an additional 347 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Vertex in the second quarter valued at $54,000. Blue Trust Inc. lifted its position in shares of Vertex by 44.4% during 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 last quarter. Advisors Asset Management Inc. grew its stake in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after acquiring an additional 395 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares during the period. Hedge funds and other institutional investors 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.