Vertex (NASDAQ:VERX – Free Report) had its price objective increased by BMO Capital Markets from $14.00 to $15.00 in a report released on Tuesday morning, Marketbeat reports. They currently have a market perform rating on the stock.
Several other analysts have also recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target (down from $19.00) on shares of Vertex in a research report on Tuesday, July 21st. Weiss Ratings cut shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Needham & Company LLC reaffirmed a “buy” rating on shares of Vertex in a research note on Monday, June 8th. TD Cowen initiated coverage on shares of Vertex in a report on Monday, June 29th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Citigroup raised their price target on shares of Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.53.
Read Our Latest Stock Report on Vertex
Vertex Price Performance
Vertex (NASDAQ:VERX – Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $203.97 million during the quarter, compared to analysts’ expectations of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.Vertex’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, sell-side analysts anticipate that Vertex will post 0.54 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in VERX. Advisors Asset Management Inc. raised 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 buying an additional 395 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Vertex by 9.9% during the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock valued at $207,000 after buying an additional 753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Vertex by 1.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock worth $2,933,000 after acquiring an additional 1,121 shares during the last quarter. 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 acquiring an additional 1,376 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Vertex by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after acquiring an additional 1,383 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.
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