Ecovyst (NYSE:ECVT) Price Target Increased to $13.00 by Analysts at Citigroup

Ecovyst (NYSE:ECVT) had its price target hoisted by Citigroup from $11.50 to $13.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Ecovyst Stock Performance

Ecovyst stock opened at $10.45 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average of $9.82 and a 200-day moving average of $9.59. The firm has a market cap of $1.22 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.55 and a beta of 1.01. Ecovyst has a 1-year low of $8.26 and a 1-year high of $12.35.

Ecovyst (NYSE:ECVT) last posted its earnings results on Wednesday, February 28th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $168.31 million. Ecovyst had a return on equity of 11.08% and a net margin of 10.30%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Sell-side analysts expect that Ecovyst will post 0.81 EPS for the current year.

Insiders Place Their Bets

In other Ecovyst news, Director Susan F. Ward sold 24,436 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.28, for a total value of $251,202.08. Following the completion of the sale, the director now directly owns 67,587 shares in the company, valued at $694,794.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.08% of the stock is currently owned by company insiders.

Institutional Trading of Ecovyst

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Street Markets LLC purchased a new stake in Ecovyst in the fourth quarter worth about $29,000. US Bancorp DE bought a new position in shares of Ecovyst during the second quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased its stake in shares of Ecovyst by 34.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,793 shares of the company’s stock valued at $47,000 after purchasing an additional 1,216 shares in the last quarter. State of Wyoming bought a new position in shares of Ecovyst during the fourth quarter valued at approximately $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Ecovyst during the second quarter valued at approximately $65,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

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.