Key Points
- Director Eric Andersen bought 40,000 shares on Feb. 20 at an average price of $12.91 (about $516,400), raising his direct stake to 150,341 shares — a 36.25% increase valued at roughly $1.94 million.
- Vertex approved a $150 million share repurchase program (authorizing buybacks of up to ~4.1% of shares) and reported quarterly EPS of $0.17 with revenue of $194.7 million, up 9.1% year-over-year.
- The stock trades near its 52-week low ($11.86) with a market cap of ~$1.92 billion and a high P/E (~300.8); analysts have a consensus "Hold" rating with an average target of $23.07.
Vertex, Inc. (NASDAQ:VERX - Get Free Report) Director Eric Andersen acquired 40,000 shares of the firm's stock in a transaction on Friday, February 20th. The stock was bought at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the acquisition, the director directly owned 150,341 shares in the company, valued at approximately $1,940,902.31. This represents a 36.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Vertex Stock Performance
Vertex stock opened at $12.03 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. Vertex, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $44.59. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 300.83, a PEG ratio of 1.52 and a beta of 0.59. The stock's 50 day simple moving average is $17.88 and its two-hundred day simple moving average is $21.35.
Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Vertex had a return on equity of 25.25% and a net margin of 0.96%.The business had revenue of $194.71 million during the quarter, compared to analyst estimates of $194.33 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.
Vertex announced that its board has approved a share repurchase program on Monday, November 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On Vertex
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Vertex in the 2nd quarter worth approximately $54,000. Global Retirement Partners LLC purchased a new stake in shares of Vertex during the fourth quarter worth $32,000. Advisors Asset Management Inc. raised its holdings in Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company's stock valued at $68,000 after acquiring an additional 395 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $45,000. Finally, Assetmark Inc. raised its holdings in shares of Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company's stock worth $83,000 after acquiring an additional 1,376 shares during the period. Institutional investors and hedge funds own 70.32% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on VERX shares. The Goldman Sachs Group reduced their price target on shares of Vertex from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. UBS Group set a $25.00 price target on shares of Vertex in a research note on Thursday, February 12th. Piper Sandler cut their target price on shares of Vertex from $20.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Stifel Nicolaus set a $16.00 price target on Vertex in a research report on Wednesday, February 11th. Finally, BMO Capital Markets cut their price objective on shares of Vertex from $22.00 to $16.00 and set a "market perform" rating on the stock in a research report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $23.07.
Read Our Latest Analysis on Vertex
About Vertex
(
Get Free Report)
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.
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