Ecovyst (NYSE:ECVT) Rating Increased to Hold at Zacks Investment Research

Ecovyst (NYSE:ECVTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Ecovyst Inc. businesses include Ecoservices and Catalyst Technologies. Ecovyst Inc., formerly known as PQ Group Holdings Inc., is based in MALVERN, Pa. “

Several other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Ecovyst from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. BWS Financial initiated coverage on shares of Ecovyst in a research note on Wednesday, March 23rd. They set a “buy” rating and a $18.00 price objective for the company. TheStreet raised shares of Ecovyst from a “d+” rating to a “c-” rating in a research note on Thursday, April 7th. Finally, KeyCorp reduced their price objective on shares of Ecovyst from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, February 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ecovyst has an average rating of “Buy” and an average price target of $14.04.

ECVT stock traded up $0.28 during mid-day trading on Monday, hitting $10.61. The company had a trading volume of 331,602 shares, compared to its average volume of 421,450. The firm has a market cap of $1.47 billion, a PE ratio of -25.88 and a beta of 0.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.19 and a current ratio of 2.67. The stock’s fifty day moving average price is $10.65 and its two-hundred day moving average price is $10.40. Ecovyst has a 12 month low of $9.12 and a 12 month high of $17.29.

Ecovyst (NYSE:ECVTGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $179.70 million during the quarter, compared to the consensus estimate of $175.46 million. Ecovyst had a negative net margin of 8.60% and a positive return on equity of 9.78%. The company’s revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Equities analysts anticipate that Ecovyst will post 0.61 earnings per share for the current year.

In other news, Director Kevin Michael Fogarty purchased 40,000 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average cost of $9.85 per share, for a total transaction of $394,000.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $394,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Feehan purchased 5,000 shares of the stock in a transaction that occurred on Thursday, May 19th. The shares were purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the acquisition, the insider now directly owns 361,034 shares in the company, valued at $3,595,898.64. The disclosure for this purchase can be found here. Insiders own 3.23% of the company’s stock.

A number of institutional investors have recently modified their holdings of ECVT. Counterpoint Mutual Funds LLC purchased a new position in Ecovyst during the 4th quarter valued at $27,000. Point72 Hong Kong Ltd purchased a new position in Ecovyst during the 3rd quarter valued at $59,000. Amplius Wealth Advisors LLC purchased a new position in Ecovyst during the 4th quarter valued at $79,000. D. E. Shaw & Co. Inc. purchased a new position in Ecovyst during the 4th quarter valued at $105,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Ecovyst in the 4th quarter worth about $115,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

About Ecovyst (Get Rating)

Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.

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