Vertex (NASDAQ:VERX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Vertex (NASDAQ:VERX) from a hold rating to a buy rating in a research report report published on Saturday.

Other analysts also recently issued research reports about the company. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Robert W. Baird dropped their target price on Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Piper Sandler raised their target price on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Vertex from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $14.00 price target on shares of Vertex in a research report on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.43.

Vertex Trading Up 1.7%

Vertex stock opened at $12.14 on Friday. Vertex has a 1 year low of $10.21 and a 1 year high of $26.63. The firm’s 50-day moving average is $12.29 and its 200-day moving average is $13.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $1.96 billion, a P/E ratio of 607.30 and a beta of 0.83.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, equities analysts expect that Vertex will post 0.54 earnings per share for the current year.

Institutional Trading of Vertex

Several hedge funds have recently added to or reduced their stakes in VERX. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Vertex in the first quarter worth about $37,796,000. Wasatch Advisors LP acquired a new position in Vertex during the 2nd quarter valued at about $88,293,000. Legacy Advisors LLC increased its stake in Vertex by 2,730.1% during the 3rd quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after buying an additional 1,296,297 shares during the period. Park West Asset Management LLC bought a new stake in shares of Vertex during the 3rd quarter worth about $30,988,000. Finally, Wellington Management Group LLP raised its position in shares of Vertex by 76.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after buying an additional 937,905 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.