BMO Capital Markets Cuts Ecovyst (NYSE:ECVT) Price Target to $9.00

Ecovyst (NYSE:ECVT - Get Free Report) had its price target decreased by stock analysts at BMO Capital Markets from $11.00 to $9.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price target indicates a potential upside of 17.96% from the stock's current price.

Several other analysts also recently commented on ECVT. BWS Financial reaffirmed a "buy" rating and set a $12.00 price objective on shares of Ecovyst in a research note on Friday. KeyCorp cut their price target on Ecovyst from $13.00 to $10.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Finally, Citigroup lowered their price objective on shares of Ecovyst from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, July 12th.

Ecovyst Stock Performance

NYSE ECVT traded up $0.97 during trading hours on Friday, hitting $7.63. The company had a trading volume of 3,431,061 shares, compared to its average volume of 875,710. Ecovyst has a 1-year low of $6.02 and a 1-year high of $11.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.18 and a current ratio of 2.72. The company has a market cap of $888.67 million, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The business has a 50 day moving average of $6.63 and a 200-day moving average of $8.15.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The business had revenue of $182.80 million for the quarter, compared to analysts' expectations of $189.79 million. During the same period in the previous year, the business posted $0.26 earnings per share. The company's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts expect that Ecovyst will post 0.46 EPS for the current year.

Insider Buying and Selling at Ecovyst

In other Ecovyst news, insider Joseph S. Koscinski acquired 4,807 shares of the business's stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the transaction, the insider now owns 544,609 shares of the company's stock, valued at $3,409,252.34. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul Whittleston acquired 7,800 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $6.50 per share, with a total value of $50,700.00. Following the purchase, the insider now directly owns 57,542 shares of the company's stock, valued at approximately $374,023. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph S. Koscinski acquired 4,807 shares of Ecovyst stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $6.26 per share, with a total value of $30,091.82. Following the completion of the acquisition, the insider now owns 544,609 shares of the company's stock, valued at $3,409,252.34. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Easterly Investment Partners LLC raised its position in shares of Ecovyst by 56.1% during the 3rd quarter. Easterly Investment Partners LLC now owns 155,296 shares of the company's stock worth $1,064,000 after purchasing an additional 55,836 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Ecovyst by 84.6% during the third quarter. Harbor Capital Advisors Inc. now owns 1,756,363 shares of the company's stock valued at $12,031,000 after acquiring an additional 805,128 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Ecovyst by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,152,089 shares of the company's stock worth $35,292,000 after purchasing an additional 49,413 shares in the last quarter. Creative Planning acquired a new position in Ecovyst in the 3rd quarter valued at about $310,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Ecovyst by 12.1% during the third quarter. Wedge Capital Management L L P NC now owns 548,857 shares of the company's stock worth $3,760,000 after buying an additional 59,331 shares in the last quarter. Hedge funds and other institutional investors own 86.69% of the company's stock.

Ecovyst Company Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.