Vertex (NASDAQ:VERX) Posts Earnings Results

Vertex (NASDAQ:VERX) announced its earnings results on Monday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05), Zacks reports. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.

Vertex Price Performance

VERX traded up $0.49 on Monday, reaching $13.40. The stock had a trading volume of 2,450,117 shares, compared to its average volume of 1,886,504. Vertex has a fifty-two week low of $10.21 and a fifty-two week high of $33.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -268.00 and a beta of 0.83. The firm has a 50-day moving average of $12.42 and a 200-day moving average of $13.51.

Institutional Investors Weigh In On Vertex

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Vertex by 36.3% in the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock worth $6,336,000 after acquiring an additional 48,181 shares during the period. Advisors Asset Management Inc. increased its position in Vertex by 25.7% during 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vertex by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock worth $2,869,000 after purchasing an additional 3,461 shares during the last quarter. Prudential Financial Inc. raised its holdings in Vertex by 92.1% during the 2nd quarter. Prudential Financial Inc. now owns 8,105 shares of the company’s stock worth $286,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Vertex by 10,910.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company’s stock worth $479,000 after purchasing an additional 13,420 shares during the period. Institutional investors own 70.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on VERX shares. Wall Street Zen lowered Vertex from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. BMO Capital Markets raised their price target on Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price target (down from $19.00) on shares of Vertex in a research note on Tuesday, July 21st. Finally, Piper Sandler upped their price objective on shares of Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.20.

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.