Vertex, Inc. (NASDAQ:VERX) Receives $32.60 Consensus Target Price from Analysts

Vertex, Inc. (NASDAQ:VERX) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.60.

VERX has been the topic of a number of research analyst reports. UBS Group restated a “market outperform” rating on shares of Vertex in a research report on Tuesday, November 4th. Citizens Jmp cut their price objective on Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 4th. JMP Securities set a $37.00 target price on Vertex in a report on Tuesday, November 4th. Piper Sandler dropped their target price on Vertex from $42.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Finally, BMO Capital Markets reduced their price target on Vertex from $30.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th.

Vertex Price Performance

Shares of VERX stock opened at $20.03 on Friday. The business has a fifty day simple moving average of $20.59 and a 200 day simple moving average of $26.10. The company has a market cap of $3.20 billion, a P/E ratio of -57.23, a P/E/G ratio of 4.11 and a beta of 0.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.27. Vertex has a twelve month low of $18.54 and a twelve month high of $60.71.

Vertex (NASDAQ:VERX) last issued its earnings results on Monday, November 3rd. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.The firm had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Vertex will post 0.38 EPS for the current fiscal year.

Vertex declared that its board has initiated a stock buyback plan on Monday, November 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after buying an additional 347 shares during the period. Advisors Asset Management Inc. lifted its stake 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 worth $68,000 after acquiring an additional 395 shares during the period. Blue Trust Inc. boosted its holdings in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Vertex by 0.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 137,913 shares of the company’s stock valued at $3,456,000 after purchasing an additional 564 shares during the period. Finally, Strategic Advocates LLC increased its position in Vertex by 9.6% during the 2nd quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock valued at $228,000 after purchasing an additional 565 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.