Ecovyst (NYSE:ECVT) Price Target Raised to $12.00 at Citigroup

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

A number of other brokerages also recently weighed in on ECVT. Deutsche Bank Aktiengesellschaft cut 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. BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research report on Friday, January 2nd. Wall Street Zen downgraded shares of Ecovyst from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ecovyst in a report on Wednesday, October 8th. Finally, KeyCorp cut their target price on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Ecovyst Stock Up 3.2%

Shares of Ecovyst stock traded up $0.35 during trading on Wednesday, hitting $10.97. 360,254 shares of the stock traded hands, compared to its average volume of 1,137,684. The company has a fifty day moving average price of $9.46 and a two-hundred day moving average price of $8.96. Ecovyst has a twelve month low of $5.24 and a twelve month high of $10.93. The stock has a market cap of $1.25 billion, a P/E ratio of -11.75, 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.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data 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). The business had revenue of $204.91 million during the quarter, compared to analyst estimates of $204.74 million. Ecovyst had a negative net margin of 14.34% and a positive return on equity of 8.93%. Equities research analysts predict that Ecovyst will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Ecovyst

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 267,695 shares in the last quarter. Rubric Capital Management LP grew its stake in 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 buying an additional 5,692,653 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 last quarter. Mangrove Partners IM LLC increased 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 buying an additional 935,647 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Ecovyst by 321.1% in the second 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. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.