Zacks Investment Research Upgrades Ecovyst (NYSE:ECVT) to “Hold”

Zacks Investment Research upgraded shares of Ecovyst (NYSE:ECVTGet Rating) from a sell rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Ecovyst Inc. businesses include Ecoservices and Catalyst Technologies. Ecovyst Inc., formerly known as PQ Group Holdings Inc., is based in MALVERN, Pa. “

Several other analysts have also recently issued reports on the company. BWS Financial started coverage on Ecovyst in a research report on Wednesday, March 23rd. They set a buy rating and a $18.00 target price on the stock. KeyCorp dropped their target price on Ecovyst from $18.00 to $16.00 and set an overweight rating on the stock in a research report on Monday, February 28th. Deutsche Bank Aktiengesellschaft dropped their target price on Ecovyst from $16.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday, March 2nd. Finally, TheStreet raised Ecovyst from a d+ rating to a c- rating in a research report on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $14.04.

ECVT opened at $9.79 on Monday. The stock’s fifty day moving average is $10.99 and its two-hundred day moving average is $10.59. Ecovyst has a 52 week low of $9.12 and a 52 week high of $17.29. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.19 and a current ratio of 2.67.

Ecovyst (NYSE:ECVTGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $179.70 million for the quarter, compared to the consensus estimate of $175.46 million. Ecovyst had a positive return on equity of 9.78% and a negative net margin of 8.60%. Ecovyst’s quarterly revenue was up 41.9% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. On average, research analysts anticipate that Ecovyst will post 0.61 EPS for the current year.

In other Ecovyst news, Director Kevin Michael Fogarty acquired 40,000 shares of the stock in a transaction dated Thursday, May 5th. The stock was purchased at an average price of $9.85 per share, with a total value of $394,000.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $394,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.23% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. CCMP Capital GP LLC acquired a new stake in Ecovyst during the 4th quarter worth about $476,830,000. Shapiro Capital Management LLC acquired a new stake in Ecovyst during the 3rd quarter worth about $68,543,000. Allspring Global Investments Holdings LLC acquired a new stake in Ecovyst during the 4th quarter worth about $41,807,000. BlackRock Inc. acquired a new stake in Ecovyst during the 3rd quarter worth about $44,839,000. Finally, Cove Street Capital LLC acquired a new stake in Ecovyst during the 3rd quarter worth about $33,709,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Company Profile (Get Rating)

Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.

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