Ecovyst (NYSE:ECVT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Ecovyst (NYSE:ECVT) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Ecovyst Inc. businesses include Ecoservices and Catalyst Technologies. Ecovyst Inc., formerly known as PQ Group Holdings Inc., is based in MALVERN, Pa. “

ECVT has been the subject of a number of other research reports. KeyCorp dropped their price objective on shares of Ecovyst from $21.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday, August 17th. Morgan Stanley dropped their price objective on shares of Ecovyst from $15.00 to $12.50 and set an equal weight rating for the company in a research note on Monday, August 16th. Finally, BMO Capital Markets assumed coverage on shares of Ecovyst in a research note on Monday, August 16th. They set an outperform rating and a $17.00 price objective for the company.

NYSE:ECVT opened at $11.53 on Tuesday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -7.34 and a beta of 0.87. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.70 and a current ratio of 1.94. The company has a 50-day moving average price of $12.32. Ecovyst has a 12-month low of $11.10 and a 12-month high of $18.90.

Ecovyst (NYSE:ECVT) last posted its quarterly earnings data on Thursday, August 5th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. Ecovyst had a negative net margin of 22.76% and a positive return on equity of 9.58%. The company had revenue of $147.00 million during the quarter, compared to the consensus estimate of $140.00 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts predict that Ecovyst will post 0.4 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Monday, August 23rd. Investors of record on Thursday, August 12th were given a dividend of $3.20 per share. The ex-dividend date of this dividend was Wednesday, August 11th.

A number of institutional investors and hedge funds have recently bought and sold shares of ECVT. LGT Capital Partners LTD. acquired a new stake in Ecovyst during the 3rd quarter worth approximately $7,521,000. Nisa Investment Advisors LLC acquired a new stake in Ecovyst during the 3rd quarter worth approximately $357,000. Virginia Retirement Systems ET AL acquired a new stake in Ecovyst during the 3rd quarter worth approximately $254,000. Finally, Strs Ohio acquired a new stake in Ecovyst during the 3rd quarter worth approximately $234,000. 72.26% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Company Profile

Ecovyst, Inc engages in the manufacture of specialty catalysts, materials and chemicals. It operates through the following segments: Refining Services, Catalysts and Performance Chemicals. The Refining Services segment offers sulfuric acid, virgin sulfuric acid, Oleum ECO services, sulfuric acid regeneration, aluminum sulfate, treatment services and industrial field services.

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