Ecovyst (NYSE:ECVT) Given New $10.00 Price Target at KeyCorp

Ecovyst (NYSE:ECVT) had its price objective lowered by KeyCorp from $13.00 to $10.00 in a research report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research analysts have also recently commented on ECVT. Citigroup reduced their price target on Ecovyst from $13.00 to $11.00 and set a buy rating for the company in a research report on Friday, July 12th. BWS Financial cut their price objective on Ecovyst from $18.00 to $12.00 and set a buy rating for the company in a research report on Monday.

Ecovyst Stock Down 1.6 %

Shares of NYSE:ECVT traded down $0.10 during mid-day trading on Monday, reaching $6.21. 2,378,848 shares of the stock were exchanged, compared to its average volume of 808,586. The company has a quick ratio of 2.01, a current ratio of 2.50 and a debt-to-equity ratio of 1.21. The company has a market cap of $726.60 million, a P/E ratio of 9.87, a P/E/G ratio of 0.47 and a beta of 1.05. Ecovyst has a one year low of $6.02 and a one year high of $11.35. The stock’s 50 day simple moving average is $9.07 and its 200-day simple moving average is $9.51.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 8.14% and a return on equity of 7.93%. The company had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.79 million. During the same period last year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts predict that Ecovyst will post 0.74 EPS for the current year.

Insider Activity

In other news, insider Joseph S. Koscinski purchased 4,807 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $6.26 per share, with a total value of $30,091.82. Following the acquisition, the insider now owns 544,609 shares in the company, valued at approximately $3,409,252.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.59% of the company’s stock.

Institutional Trading of Ecovyst

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Ecovyst during the 2nd quarter worth approximately $35,000. CWM LLC lifted its holdings in Ecovyst by 6,920.7% during the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $37,000 after purchasing an additional 4,014 shares during the last quarter. Quest Partners LLC acquired a new stake in Ecovyst during the 4th quarter worth approximately $78,000. SG Americas Securities LLC bought a new position in Ecovyst during the 2nd quarter worth $95,000. Finally, Paloma Partners Management Co bought a new position in Ecovyst during the 1st quarter worth $114,000. 86.69% of the stock is owned by institutional investors and hedge funds.

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.