Ecovyst (NYSE:ECVT) Sets New 52-Week High Following Analyst Upgrade

Ecovyst Inc. (NYSE:ECVT) reached a new 52-week high on Wednesday after Citigroup raised their price target on the stock from $10.00 to $12.00. Citigroup currently has a neutral rating on the stock. Ecovyst traded as high as $10.93 and last traded at $10.8450, with a volume of 73489 shares changing hands. The stock had previously closed at $10.62.

Several other analysts also recently issued reports on ECVT. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Wall Street Zen downgraded shares of Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Ecovyst in a research note on Wednesday, October 8th. KeyCorp dropped their price target on Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Finally, BWS Financial reissued a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research report on Friday, January 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ECVT. State of Alaska Department of Revenue acquired a new position in Ecovyst during the third quarter valued at $48,000. CWM LLC increased its holdings in shares of Ecovyst by 63.0% during the 2nd quarter. CWM LLC now owns 5,946 shares of the company’s stock valued at $49,000 after purchasing an additional 2,298 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Ecovyst by 1,769.9% during the second quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company’s stock valued at $51,000 after buying an additional 5,823 shares during the period. Russell Investments Group Ltd. purchased a new position in Ecovyst in the third quarter valued at $87,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Ecovyst in the 3rd quarter valued at about $89,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Ecovyst Trading Down 0.0%

The stock has a market cap of $1.27 billion, a PE ratio of -11.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.25. The company has a 50 day moving average of $9.55 and a two-hundred day moving average of $8.99.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Ecovyst had a positive return on equity of 8.93% and a negative net margin of 14.34%.The firm had revenue of $204.91 million during the quarter, compared to analyst estimates of $204.74 million. Sell-side analysts anticipate that Ecovyst Inc. will post 0.44 earnings per share for the current fiscal year.

About Ecovyst

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.