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

Ecovyst (NYSE:ECVT) had its price target boosted by Citigroup from $10.00 to $12.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

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

Ecovyst Stock Up 3.0%

Shares of NYSE ECVT opened at $10.94 on Wednesday. Ecovyst has a 1 year low of $5.24 and a 1 year high of $10.97. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -11.76, a PEG ratio of 1.37 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. The stock’s 50-day simple moving average is $9.50 and its 200-day simple moving average is $8.97.

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

Hedge Funds Weigh In On Ecovyst

Several institutional investors have recently made changes to their positions in ECVT. Squarepoint Ops LLC bought a new position in Ecovyst in the 2nd quarter worth about $1,239,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ecovyst during the second quarter valued at approximately $465,000. Ballast Asset Management LP boosted its position in shares of Ecovyst by 14.4% during the second quarter. Ballast Asset Management LP now owns 555,373 shares of the company’s stock worth $4,571,000 after buying an additional 69,786 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Ecovyst during the second quarter worth approximately $3,704,000. Finally, Boston Partners grew its holdings in Ecovyst by 321.1% in 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. 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.