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

Ecovyst (NYSE:ECVT) had its target price decreased by equities researchers at BMO Capital Markets from $11.00 to $9.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 21.13% from the stock’s current price.

ECVT has been the subject of a number of other reports. KeyCorp dropped their price objective on Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Citigroup dropped their price target on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, BWS Financial reissued a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research note on Friday.

Ecovyst Trading Up 11.6 %

Ecovyst stock traded up $0.77 during mid-day trading on Friday, hitting $7.43. The company’s stock had a trading volume of 1,737,507 shares, compared to its average volume of 867,721. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $8.15. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $865.37 million, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. Ecovyst has a 1 year low of $6.02 and a 1 year high of $11.35.

Ecovyst (NYSE:ECVT) 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). The company had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $189.79 million. Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts anticipate that Ecovyst will post 0.46 EPS for the current year.

Insider Activity at Ecovyst

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

Institutional Trading of Ecovyst

Institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management increased its stake in Ecovyst by 2.4% in the first quarter. LSV Asset Management now owns 739,400 shares of the company’s stock valued at $8,244,000 after purchasing an additional 17,100 shares during the period. Oppenheimer Asset Management Inc. increased its position in Ecovyst by 18.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,605 shares of the company’s stock valued at $587,000 after acquiring an additional 8,032 shares during the period. Steamboat Capital Partners LLC raised its stake in Ecovyst by 1.7% during the 1st quarter. Steamboat Capital Partners LLC now owns 312,821 shares of the company’s stock valued at $3,488,000 after acquiring an additional 5,209 shares during the last quarter. Sei Investments Co. lifted its position in Ecovyst by 58.3% during the 1st quarter. Sei Investments Co. now owns 521,176 shares of the company’s stock worth $5,811,000 after acquiring an additional 191,839 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Ecovyst by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,635 shares of the company’s stock valued at $185,000 after purchasing an additional 1,308 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Ecovyst

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.