Lazard Freres Gestion S.A.S. Increases Stock Position in Vertex, Inc. $VERX

Lazard Freres Gestion S.A.S. raised its position in Vertex, Inc. (NASDAQ:VERX) by 250.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Vertex were worth $1,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of VERX. Fifth Third Bancorp increased its holdings in Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Vertex in the 2nd quarter worth approximately $54,000. Blue Trust Inc. grew its position in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after buying an additional 512 shares during the last quarter. Advisors Asset Management Inc. grew its position 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 worth $68,000 after buying an additional 395 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Vertex by 16.1% during the first quarter. State of Wyoming now owns 4,669 shares of the company’s stock valued at $163,000 after buying an additional 649 shares during the period. 70.32% of the stock is owned by institutional investors.

Vertex Stock Down 0.3%

NASDAQ:VERX opened at $19.97 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50-day moving average price is $20.37 and its 200-day moving average price is $26.01. The company has a market capitalization of $3.19 billion, a PE ratio of -57.06, a P/E/G ratio of 4.05 and a beta of 0.60. Vertex, Inc. has a 1-year low of $18.54 and a 1-year high of $60.71.

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

Vertex declared that its Board of Directors has initiated a share buyback plan on Monday, November 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VERX shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. UBS Group restated a “market outperform” rating on shares of Vertex in a report on Tuesday, November 4th. Citizens Jmp cut their target price on shares of Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 4th. DA Davidson reduced their price target on shares of Vertex from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Finally, Robert W. Baird set a $25.00 price target on shares of Vertex in a research note on Tuesday, November 4th. Twelve equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

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.