Citigroup Begins Coverage on Ecovyst (NYSE:ECVT)

Citigroup started coverage on shares of Ecovyst (NYSE:ECVT) in a research note published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

Several other analysts also recently issued reports on ECVT. TheStreet raised shares of Ecovyst from a c+ rating to a b rating in a report on Thursday, August 3rd. KeyCorp reduced their price target on shares of Ecovyst from $14.00 to $13.00 and set an overweight rating on the stock in a report on Friday, August 4th.

Ecovyst Stock Up 2.8 %

ECVT stock opened at $10.47 on Monday. The company has a market cap of $1.22 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.52 and a beta of 0.97. Ecovyst has a 52 week low of $8.20 and a 52 week high of $12.35. The company’s 50-day moving average price is $10.79 and its 200 day moving average price is $10.79. The company has a current ratio of 1.91, a quick ratio of 1.45 and a debt-to-equity ratio of 1.29.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Ecovyst had a net margin of 9.38% and a return on equity of 12.67%. The firm had revenue of $184.10 million for the quarter, compared to the consensus estimate of $197.52 million. On average, research analysts expect that Ecovyst will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kurt Bitting acquired 3,100 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average price of $9.64 per share, with a total value of $29,884.00. Following the completion of the transaction, the insider now directly owns 415,718 shares in the company, valued at approximately $4,007,521.52. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ecovyst

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Ecovyst by 212.3% during the first quarter. Envestnet Asset Management Inc. now owns 33,607 shares of the company’s stock worth $388,000 after purchasing an additional 22,847 shares during the last quarter. Swiss National Bank increased its position in Ecovyst by 7.3% during the first quarter. Swiss National Bank now owns 97,200 shares of the company’s stock worth $1,124,000 after purchasing an additional 6,600 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ecovyst by 35.6% during the first quarter. Bank of New York Mellon Corp now owns 322,675 shares of the company’s stock worth $3,731,000 after purchasing an additional 84,711 shares during the last quarter. American Century Companies Inc. increased its position in Ecovyst by 21.6% during the first quarter. American Century Companies Inc. now owns 175,278 shares of the company’s stock worth $2,026,000 after purchasing an additional 31,180 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Ecovyst by 55.4% during the first quarter. MetLife Investment Management LLC now owns 27,874 shares of the company’s stock worth $322,000 after purchasing an additional 9,939 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Ecovyst Company Profile

Ecovyst Inc offers specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in two segments, Ecoservices and Catalyst Technologies. 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.