Credit Suisse Group Boosts Vertex Energy (NASDAQ:VTNR) Price Target to $21.50

Vertex Energy (NASDAQ:VTNRGet Rating) had its price target lifted by analysts at Credit Suisse Group to $21.50 in a note issued to investors on Thursday, Stock Target Advisor reports. Credit Suisse Group’s target price indicates a potential upside of 32.15% from the stock’s current price.

A number of other analysts also recently commented on VTNR. Zacks Investment Research upgraded Vertex Energy from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, May 18th. Stifel Nicolaus upped their price objective on Vertex Energy from $14.00 to $20.00 in a report on Wednesday. Finally, StockNews.com initiated coverage on Vertex Energy in a report on Thursday, March 31st. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Vertex Energy presently has an average rating of “Buy” and a consensus price target of $18.13.

VTNR traded down $0.73 during trading on Thursday, hitting $16.27. The company’s stock had a trading volume of 2,964,372 shares, compared to its average volume of 4,156,099. The firm’s 50 day moving average price is $11.48 and its 200-day moving average price is $7.62. The company has a current ratio of 4.10, a quick ratio of 3.87 and a debt-to-equity ratio of 0.63. Vertex Energy has a twelve month low of $3.30 and a twelve month high of $18.10.

Vertex Energy (NASDAQ:VTNRGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.22. The company had revenue of $40.22 million during the quarter, compared to the consensus estimate of $63.63 million. Vertex Energy had a negative return on equity of 25.34% and a negative net margin of 7.20%. As a group, analysts forecast that Vertex Energy will post 3.58 EPS for the current year.

In related news, Director David L. Phillips sold 33,207 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $15.50, for a total value of $514,708.50. Following the completion of the sale, the director now directly owns 96,621 shares in the company, valued at approximately $1,497,625.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in Vertex Energy in the 1st quarter valued at $85,000. State Street Corp boosted its position in Vertex Energy by 15.8% in the 1st quarter. State Street Corp now owns 150,022 shares of the industrial products company’s stock valued at $1,491,000 after buying an additional 20,522 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in Vertex Energy in the 1st quarter valued at about $3,013,000. Invesco Ltd. purchased a new position in Vertex Energy in the 1st quarter valued at about $6,655,000. Finally, UBS Group AG boosted its position in Vertex Energy by 137.8% in the 1st quarter. UBS Group AG now owns 201,502 shares of the industrial products company’s stock valued at $2,003,000 after buying an additional 116,770 shares during the last quarter. Hedge funds and other institutional investors own 48.16% of the company’s stock.

About Vertex Energy (Get Rating)

Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates through Black Oil, Refining and Marketing, and Recovery segments.

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