Vertex, Inc. (NASDAQ:VERX) has received a consensus recommendation of “Moderate Buy” from eighteen analysts currently covering the firm, according to Marketbeat. This mixed outlook includes one sell rating, five hold ratings, and twelve buy ratings. The average target price set by these brokerages for the next twelve months stands at $32.60.
Recent Analyst Reports Influence Target Prices
In recent weeks, several analyst reports have emerged regarding Vertex. On November 3, Jefferies Financial Group established a price objective of $28.00 for the company. Just a day later, DA Davidson lowered its target from $29.00 to $23.00, maintaining a “neutral” rating. The following day, Goldman Sachs Group revised its price target down from $43.00 to $28.00 but retained a “buy” rating. Additionally, Needham & Company LLC decreased its price objective from $40.00 to $30.00, while Stephens initiated coverage with an “overweight” rating and a target price of $30.00.
As of Friday, shares of Vertex opened at $20.31. The company has seen fluctuations in its stock performance, with a one-year low of $18.54 and a high of $60.71. Currently, Vertex holds a market capitalization of $3.24 billion. Its financial ratios include a debt-to-equity ratio of 1.27, a current ratio of 1.01, and a quick ratio of 1.01.
Quarterly Performance and Future Outlook
Vertex announced its quarterly earnings on November 3, reporting earnings per share (EPS) of $0.17, surpassing the consensus estimate of $0.16 by $0.01. The company’s revenue for the quarter reached $192.11 million, which also exceeded analysts’ expectations of $191.62 million. This marks a 12.7% increase in revenue compared to the same quarter last year, where Vertex earned $0.16 in EPS.
Looking ahead, analysts forecast that Vertex will report an EPS of $0.38 for the current fiscal year. In a significant move, the company’s board has approved a share repurchase program, authorizing the buyback of up to $150.00 million worth of shares. This initiative allows Vertex to reacquire up to 4.1% of its stock through open market purchases, often interpreted as a sign that the board views the stock as undervalued.
Based in Houston, Texas, Vertex Energy, Inc. specializes in refining and marketing transportation fuels and petrochemical feedstocks. The company focuses on processing various waste petroleum products, including used motor oil and industrial lubricants, converting them into ultra-low-sulfur diesel and other refined products. By employing proprietary re-refining technologies, Vertex aims to provide lower-carbon fuel solutions to its customers across the United States.
