Vertex (NASDAQ:VERX – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.
Several other equities research analysts also recently weighed in on the company. Morgan Stanley reaffirmed 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. BMO Capital Markets lifted their price target on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. Needham & Company LLC restated a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Citigroup lifted their target price on shares of Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Robert W. Baird cut their price objective on shares of Vertex from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.43.
Read Our Latest Stock Report on VERX
Vertex Price Performance
Vertex (NASDAQ:VERX – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $203.97 million during the quarter, compared to the consensus estimate of $202.21 million. Vertex had a return on equity of 29.00% and a net margin of 0.45%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities analysts anticipate that Vertex will post 0.54 EPS for the current year.
Hedge Funds Weigh In On Vertex
A number of hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the last quarter. Victory Capital Management Inc. raised its position in Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after buying an additional 753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Vertex by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock valued at $2,933,000 after purchasing an additional 1,121 shares during the period. Assetmark Inc. lifted its holdings in shares of Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after buying an additional 1,376 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Vertex by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after purchasing an additional 1,383 shares in the last quarter. Institutional investors and hedge funds 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.
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