Ecovyst (NYSE:ECVT) Cut to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Ecovyst (NYSE:ECVT – Free Report) from a buy rating to a hold rating in a research report released on Sunday,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Ecovyst in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ecovyst in a report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 target price on shares of Ecovyst in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.62.

View Our Latest Analysis on Ecovyst

Ecovyst Stock Up 0.2%

Shares of NYSE ECVT opened at $10.07 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.70 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.10 billion, a P/E ratio of -19.00, a P/E/G ratio of 0.45 and a beta of 1.08. Ecovyst has a 52 week low of $7.41 and a 52 week high of $15.09. The business has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $11.77.

Ecovyst (NYSE:ECVT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Ecovyst had a positive return on equity of 13.83% and a negative net margin of 7.05%. The firm had revenue of $249.96 million for the quarter, compared to analysts’ expectations of $237.54 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. Research analysts anticipate that Ecovyst will post 0.60 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ecovyst news, Director Patti Humble bought 24,875 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $10.05 per share, for a total transaction of $249,993.75. Following the purchase, the director directly owned 33,974 shares of the company’s stock, valued at $341,438.70. The trade was a 273.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.84% of the stock is currently owned by insiders.

Institutional Trading of Ecovyst

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Ecovyst during the 2nd quarter worth $132,792,000. Arrowstreet Capital Limited Partnership grew its position in Ecovyst by 246.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,829,034 shares of the company’s stock worth $62,101,000 after acquiring an additional 3,435,942 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Ecovyst in the second quarter worth $10,712,000. Bank of America Corp DE bought a new position in Ecovyst in the second quarter valued at $7,274,000. Finally, Empowered Funds LLC bought a new position in Ecovyst in the second quarter valued at $7,163,000. Institutional investors own 86.69% of the company’s stock.

About Ecovyst

(Get Free Report)

Ecovyst Inc (NYSE: ECVT) is a global provider of specialty catalysts and advanced materials used in industrial and environmental applications. The company develops, manufactures and supplies products that help customers improve process efficiency, increase yields and meet emissions and sustainability requirements.

Through its Catalysts Technologies business, Ecovyst provides catalysts and related services for petroleum refining, renewable fuels, petrochemicals and other chemical processes.

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