Ecovyst (NYSE:ECVT) Reaches New 52-Week High – Here’s Why

Ecovyst Inc. (NYSE:ECVT)’s stock price hit a new 52-week high during trading on Wednesday . The company 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.

Analysts Set New Price Targets

ECVT has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Ecovyst from $8.50 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, December 18th. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research report on Friday, January 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Ecovyst in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Finally, Wall Street Zen lowered shares of Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.60.

Ecovyst Trading Up 1.9%

The company has a market capitalization of $1.23 billion, a PE ratio of -11.64, a PEG ratio of 1.38 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 stock has a fifty day moving average of $9.46 and a 200 day moving average of $8.96.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). Ecovyst had a negative net margin of 14.34% and a positive return on equity of 8.93%. The company had revenue of $204.91 million for the quarter, compared to the consensus estimate of $204.74 million. As a group, sell-side analysts predict that Ecovyst Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Ecovyst

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

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.