Ecovyst (NYSE:ECVT) Hits New 1-Year High – Here’s What Happened

Ecovyst Inc. (NYSE:ECVT)’s share price reached a new 52-week high on Monday . The stock traded as high as $10.01 and last traded at $9.89, with a volume of 1135114 shares traded. The stock had previously closed at $9.82.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ECVT. KeyCorp cut their target price on Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Wall Street Zen cut shares of Ecovyst from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. 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 report on Friday, November 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ecovyst in a research note on Wednesday, October 8th. Finally, Citigroup lifted their target price on Ecovyst from $8.50 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ecovyst presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.60.

Ecovyst Trading Down 0.9%

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -10.62, a P/E/G ratio of 1.58 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. The company’s 50 day simple moving average is $8.85 and its two-hundred day simple moving average is $8.73.

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

Hedge Funds Weigh In On Ecovyst

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Ecovyst by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,921,217 shares of the company’s stock valued at $95,670,000 after acquiring an additional 267,695 shares during the period. Rubric Capital Management LP boosted its position in shares of Ecovyst by 120.9% during the 3rd quarter. Rubric Capital Management LP now owns 10,400,000 shares of the company’s stock worth $91,104,000 after purchasing an additional 5,692,653 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ecovyst by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 6,257,072 shares of the company’s stock worth $54,812,000 after buying an additional 77,374 shares during the period. Mangrove Partners IM LLC grew its holdings in Ecovyst by 20.6% in the third quarter. Mangrove Partners IM LLC now owns 5,474,057 shares of the company’s stock valued at $47,953,000 after purchasing an additional 935,647 shares during the last quarter. Finally, Boston Partners grew its stake in Ecovyst by 321.1% in the 2nd quarter. Boston Partners now owns 3,242,285 shares of the company’s stock valued at $26,785,000 after acquiring an additional 2,472,377 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

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.