Ecovyst (NYSE:ECVT) Hits New 52-Week High – Time to Buy?

Shares of Ecovyst Inc. (NYSE:ECVT) hit a new 52-week high during trading on Monday . The company traded as high as $9.69 and last traded at $9.6750, with a volume of 623933 shares changing hands. The stock had previously closed at $9.59.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ECVT. BWS Financial reiterated a “buy” rating and set a $12.00 price target on shares of Ecovyst in a research note on Monday, November 10th. Citigroup lifted their target price on Ecovyst from $8.50 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. Wall Street Zen cut Ecovyst from a “buy” rating to a “hold” rating in a research report on Sunday. Deutsche Bank Aktiengesellschaft decreased their price objective on Ecovyst from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Finally, BMO Capital Markets boosted their price objective on Ecovyst from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.60.

Ecovyst Trading Up 0.8%

The stock has a fifty day simple moving average of $8.63 and a 200 day simple moving average of $8.64. The firm has a market capitalization of $1.10 billion, a P/E ratio of -10.39, a PEG ratio of 1.52 and a beta of 1.25. The company has a quick ratio of 2.07, a current ratio of 2.25 and a debt-to-equity ratio of 1.39.

Ecovyst (NYSE:ECVT) last released its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $204.91 million for the quarter, compared to analysts’ expectations of $204.74 million. As a group, research analysts forecast that Ecovyst Inc. will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Ecovyst

A number of hedge funds and other institutional investors have recently modified their holdings of ECVT. CIBC Bancorp USA Inc. bought a new stake in shares of Ecovyst in the third quarter worth about $109,000. PharVision Advisers LLC purchased a new position in shares of Ecovyst in the third quarter valued at $101,000. Prelude Capital Management LLC bought a new stake in Ecovyst in the third quarter worth $185,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Ecovyst in the third quarter worth $477,000. Finally, Invenomic Capital Management LP purchased a new stake in Ecovyst during the third quarter valued at $16,729,000. Institutional investors own 86.69% of the company’s stock.

Ecovyst Company Profile

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.