Vertex, Inc. (NASDAQ:VERX – Get Free Report) shares dropped 6.3% during trading on Tuesday . The company traded as low as $12.84 and last traded at $12.9050. 94,880 shares traded hands during trading, a decline of 95% from the average session volume of 1,910,310 shares. The stock had previously closed at $13.77.
Analyst Ratings Changes
A number of research analysts have weighed in on VERX shares. DA Davidson dropped their target price on shares of Vertex from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Robert W. Baird lowered their price target on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price objective (down from $19.00) on shares of Vertex in a report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating on shares of Vertex in a research note on Monday, June 8th. Finally, BMO Capital Markets increased their price target on Vertex from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 4th. Seven 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, the company has an average rating of “Hold” and an average target price of $17.43.
Check Out Our Latest Analysis on VERX
Vertex Stock Down 4.3%
Vertex (NASDAQ:VERX – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $203.97 million for 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%.The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, research analysts forecast that Vertex, Inc. will post 0.54 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Vertex during the second quarter valued at $54,000. Global Retirement Partners LLC purchased a new position in shares of Vertex during the fourth quarter worth about $32,000. Advisors Asset Management Inc. grew its holdings in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Vertex in the fourth quarter worth approximately $45,000. Finally, Palladiem LLC bought a new position in shares of Vertex in the fourth quarter worth approximately $88,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
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