Vertex (NASDAQ:VERX) Trading Up 7.1% – Still a Buy?

Vertex, Inc. (NASDAQ:VERX) shot up 7.1% during mid-day trading on Friday . The stock traded as high as $11.65 and last traded at $11.6610. Approximately 1,575,726 shares changed hands during trading, a decline of 15% from the average daily volume of 1,846,413 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

Several research firms recently commented on VERX. DA Davidson set a $15.00 target price on Vertex in a research report on Friday, May 8th. Morgan Stanley reiterated 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. BMO Capital Markets increased their price target on Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. Finally, Piper Sandler lifted their price objective on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Seven 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.20.

Vertex Stock Performance

The stock has a market cap of $1.89 billion, a P/E ratio of -233.80 and a beta of 0.83. The company has a fifty day moving average of $12.48 and a 200 day moving average of $13.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86.

Vertex (NASDAQ:VERX) last issued its quarterly 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 firm had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, equities analysts predict that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Vertex in the first quarter worth about $37,796,000. Wasatch Advisors LP grew its stake in shares of Vertex by 9.2% in the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock worth $67,640,000 after purchasing an additional 229,774 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after purchasing an additional 937,905 shares during the last quarter. State Street Corp raised its holdings in shares of Vertex by 8.0% in the 4th quarter. State Street Corp now owns 1,849,171 shares of the company’s stock worth $36,928,000 after purchasing an additional 136,656 shares in the last quarter. Finally, Park West Asset Management LLC raised its holdings in shares of Vertex by 46.7% in the 4th quarter. Park West Asset Management LLC now owns 1,833,428 shares of the company’s stock worth $36,614,000 after purchasing an additional 583,428 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

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.