BWS Financial Reaffirms Buy Rating for Ecovyst (NYSE:ECVT)

Ecovyst (NYSE:ECVT)‘s stock had its “buy” rating restated by stock analysts at BWS Financial in a report issued on Monday,Benzinga reports. They presently have a $12.00 price objective on the stock. BWS Financial’s price objective would indicate a potential upside of 77.65% from the stock’s previous close.

Separately, BMO Capital Markets cut their price objective on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

Ecovyst Stock Up 1.9 %

Shares of NYSE ECVT opened at $6.76 on Monday. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $6.24 and a 200 day moving average of $7.21. Ecovyst has a 12-month low of $5.24 and a 12-month high of $9.96. The stock has a market cap of $792.94 million, a PE ratio of 14.69, a P/E/G ratio of 1.04 and a beta of 1.06.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. Ecovyst had a return on equity of 7.07% and a net margin of 7.74%. The company had revenue of $162.20 million for the quarter, compared to analyst estimates of $168.43 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Ecovyst will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Ecovyst

Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in Ecovyst by 198.1% in the third quarter. Barclays PLC now owns 178,032 shares of the company’s stock valued at $1,220,000 after buying an additional 118,303 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Ecovyst during the 4th quarter worth approximately $139,000. Harbor Capital Advisors Inc. increased its holdings in Ecovyst by 13.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,000,444 shares of the company’s stock valued at $15,283,000 after purchasing an additional 244,081 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ecovyst by 11.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,903,148 shares of the company’s stock valued at $14,540,000 after purchasing an additional 198,817 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Ecovyst by 31.7% during the fourth quarter. New York State Common Retirement Fund now owns 29,081 shares of the company’s stock worth $222,000 after purchasing an additional 7,000 shares in the last quarter. 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.