Ecovyst (NYSE:ECVT) Stock Price Expected to Rise, Citigroup Analyst Says

Ecovyst (NYSE:ECVT) had its target price raised by stock analysts at Citigroup from $10.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 9.44% from the stock’s previous close.

A number of other brokerages have also commented on ECVT. BWS Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Ecovyst in a research report on Friday, January 2nd. Wall Street Zen cut shares of Ecovyst from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. KeyCorp cut their price objective on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ecovyst in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ecovyst from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Ecovyst Price Performance

NYSE ECVT traded up $0.35 on Wednesday, hitting $10.97. 360,254 shares of the company were exchanged, compared to its average volume of 1,137,684. Ecovyst has a 1-year low of $5.24 and a 1-year high of $10.93. The firm has a 50 day moving average of $9.46 and a two-hundred day moving average of $8.96. The company has a current ratio of 2.25, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.25 billion, a P/E ratio of -11.75, a P/E/G ratio of 1.38 and a beta of 1.20.

Ecovyst (NYSE:ECVT) last announced its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $204.91 million for the quarter, compared to analyst estimates of $204.74 million. Ecovyst had a positive return on equity of 8.93% and a negative net margin of 14.34%. On average, equities analysts predict that Ecovyst will post 0.44 EPS for the current year.

Institutional Trading of Ecovyst

A number of large investors have recently bought and sold shares of ECVT. Vanguard Group Inc. raised its holdings in Ecovyst by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,921,217 shares of the company’s stock worth $95,670,000 after buying an additional 267,695 shares during the period. Rubric Capital Management LP increased its position in shares of Ecovyst by 120.9% during the third quarter. Rubric Capital Management LP now owns 10,400,000 shares of the company’s stock worth $91,104,000 after acquiring an additional 5,692,653 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 77,374 shares during the period. Mangrove Partners IM LLC raised its holdings in shares of Ecovyst by 20.6% during the third quarter. Mangrove Partners IM LLC now owns 5,474,057 shares of the company’s stock worth $47,953,000 after acquiring an additional 935,647 shares during the period. Finally, Boston Partners lifted its position 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 in the last quarter. 86.69% of the stock is owned by institutional investors.

About Ecovyst

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.