Vertex (NASDAQ:VERX) Rating Increased to Strong-Buy at TD Cowen

Vertex (NASDAQ:VERX) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Vertex in a research report on Thursday, May 7th. Wall Street Zen cut shares of Vertex from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup increased their price objective on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Piper Sandler lifted their target price on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, DA Davidson set a $15.00 target price on Vertex in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.47.

Vertex Trading Up 0.7%

Shares of VERX stock opened at $11.48 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.86 billion, a P/E ratio of -229.60 and a beta of 0.82. Vertex has a 12-month low of $10.21 and a 12-month high of $36.75. The firm has a 50-day moving average price of $12.61 and a 200 day moving average price of $14.70.

Vertex (NASDAQ:VERX) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $196.65 million during the quarter, compared to analysts’ expectations of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. Vertex’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Research analysts forecast that Vertex will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Vertex

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in shares of Vertex by 21.1% in the fourth quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock valued at $19,807,000 after buying an additional 172,692 shares during the period. Hyperion Capital Advisors LP acquired a new position in shares of Vertex during the 3rd quarter worth about $13,387,000. Champlain Investment Partners LLC increased its stake in shares of Vertex by 19.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock worth $50,807,000 after purchasing an additional 340,680 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Vertex in the 3rd quarter valued at about $1,882,000. Finally, ShawSpring Partners LLC grew its holdings in Vertex by 51.8% during the third quarter. ShawSpring Partners LLC now owns 1,081,446 shares of the company’s stock worth $26,809,000 after purchasing an additional 369,001 shares during the period. Institutional investors 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.