Ecovyst (NYSE:ECVT) Lowered to Hold Rating by Wall Street Zen

Ecovyst (NYSE:ECVT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other research analysts have also commented on ECVT. Citigroup increased their price objective on Ecovyst from $8.50 to $10.00 and gave the company a “neutral” rating in a research report on Thursday. BWS Financial reaffirmed a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Ecovyst in a research note on Wednesday, October 8th. KeyCorp dropped 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ecovyst presently has a consensus rating of “Moderate Buy” and an average price target of $11.60.

Ecovyst Stock Up 0.6%

Shares of ECVT stock opened at $9.59 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.25 and a debt-to-equity ratio of 1.39. The firm has a market cap of $1.09 billion, a PE ratio of -10.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. Ecovyst has a 12 month low of $5.24 and a 12 month high of $9.69. The stock has a 50 day moving average of $8.63 and a 200-day moving average of $8.63.

Ecovyst (NYSE:ECVT) last announced its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $204.91 million during the quarter, compared to the consensus estimate of $204.74 million. On average, equities analysts predict that Ecovyst will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Ecovyst

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 buying an additional 267,695 shares in the last quarter. Rubric Capital Management LP raised 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 acquiring an additional 5,692,653 shares in the last quarter. Dimensional Fund Advisors LP raised 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 acquiring an additional 77,374 shares in the last quarter. Mangrove Partners IM LLC lifted its holdings in shares of Ecovyst by 20.6% in 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 last quarter. Finally, Boston Partners boosted its stake in shares of 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 purchasing an additional 2,472,377 shares in the last quarter. Institutional investors 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.