Ecovyst (NYSE:ECVT) Stock Gets Price Target Cut from Citigroup

Ecovyst (NYSE:ECVT) had its price target decreased by Citigroup from $13.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms also recently commented on ECVT. Wall Street Zen downgraded Ecovyst from a “buy” rating to a “hold” rating in a research report on Sunday, November 1st. Weiss Ratings raised shares of Ecovyst from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday. Deutsche Bank reissued a “buy” rating and issued a $14.00 price objective on shares of Ecovyst in a research note on Tuesday, September 1st. BMO Capital Markets restated an “outperform” rating on shares of Ecovyst in a research note on Friday, November 6th. Finally, BWS Financial restated a “buy” rating and issued a $16.00 target price on shares of Ecovyst in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Ecovyst Stock Up 1.7%

Shares of Ecovyst stock opened at $10.93 on Wednesday. Ecovyst has a 1 year low of $8.11 and a 1 year high of $15.09. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.82 and a quick ratio of 1.54. The business has a 50-day moving average of $10.22 and a two-hundred day moving average of $11.76. The company has a market capitalization of $1.19 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 0.48 and a beta of 1.08.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $308.64 million during the quarter, compared to analysts’ expectations of $287.45 million. Ecovyst had a net margin of 3.72% and a return on equity of 14.38%. The business’s quarterly revenue was up 50.6% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. As a group, equities analysts predict that Ecovyst will post 0.60 EPS for the current year.

Insiders Place Their Bets

In related news, Director Patti Humble acquired 24,875 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average price of $10.05 per share, for a total transaction of $249,993.75. Following the completion of the acquisition, the director owned 33,974 shares of the company’s stock, valued at approximately $341,438.70. This trade represents a 273.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.84% of the company’s stock.

Institutional Trading of Ecovyst

Several large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Ecovyst by 701.3% in the third quarter. Farther Finance Advisors LLC now owns 3,622 shares of the company’s stock worth $36,000 after acquiring an additional 3,170 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Ecovyst during the second quarter worth approximately $65,000. State of Wyoming bought a new position in shares of Ecovyst in the 1st quarter worth $80,000. Ethic Inc. bought a new position in shares of Ecovyst in the 3rd quarter worth $180,000. Finally, Nisa Investment Advisors LLC grew its position in Ecovyst by 75.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,659 shares of the company’s stock valued at $183,000 after purchasing an additional 8,053 shares during the period. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Ecovyst Company Profile

Ecovyst Inc. is a specialty chemicals company that supplies catalysts, materials and services to customers in the refining, chemicals and other industrial sectors. Its businesses include sulfuric acid services and catalyst technologies. Through its Ecoservices business, Ecovyst regenerates spent sulfuric acid for reuse and supplies virgin sulfuric acid. These services support industrial processes, including those used in petroleum refining and chemical manufacturing. The company’s catalyst technologies include zeolite catalysts and silica-based materials used in refining and chemical applications.