Ecovyst (NYSE:ECVT) Hits New 52-Week High – Here’s What Happened

Ecovyst Inc. (NYSE:ECVT) reached a new 52-week high during trading on Monday . The company traded as high as $10.02 and last traded at $9.8050, with a volume of 182404 shares traded. The stock had previously closed at $9.91.

Analyst Ratings Changes

ECVT has been the topic of several research analyst reports. BMO Capital Markets increased their target price on Ecovyst from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 28th. 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. Wall Street Zen cut shares of Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, KeyCorp dropped their price objective 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 issued 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 target price of $11.60.

Ecovyst Trading Down 0.2%

The business has a 50 day moving average price of $8.94 and a 200 day moving average price of $8.77. The company has a market capitalization of $1.13 billion, a P/E ratio of -10.63, a PEG ratio of 1.27 and a beta of 1.20. The company has a current ratio of 2.25, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39.

Ecovyst (NYSE:ECVT) last issued 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 positive return on equity of 8.93% and a negative net margin of 14.34%.The business had revenue of $204.91 million for the quarter, compared to analyst estimates of $204.74 million. Analysts anticipate that Ecovyst Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Ecovyst

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP lifted its holdings in shares of Ecovyst by 120.9% in the third 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 in the last quarter. Oaktree Capital Management LP acquired a new stake in Ecovyst in the 3rd quarter valued at $25,045,000. Boston Partners lifted its position in Ecovyst by 321.1% during the 2nd quarter. Boston Partners now owns 3,242,285 shares of the company’s stock worth $26,785,000 after buying an additional 2,472,377 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Ecovyst during the 3rd quarter worth about $16,729,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Ecovyst by 221.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,590,044 shares of the company’s stock worth $13,086,000 after buying an additional 1,095,228 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.

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.