Ecovyst (NYSE:ECVT) Given New $9.00 Price Target at Citigroup

Ecovyst (NYSE:ECVT) had its price objective upped by Citigroup from $8.00 to $9.00 in a research report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also issued reports on ECVT. BWS Financial reissued a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a report on Wednesday, December 4th. BMO Capital Markets lifted their price target on Ecovyst from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd.

Ecovyst Trading Up 0.8 %

Shares of ECVT stock traded up $0.06 during trading hours on Wednesday, reaching $7.38. 106,982 shares of the stock were exchanged, compared to its average volume of 871,952. 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’s 50-day moving average price is $7.48 and its 200-day moving average price is $7.73. Ecovyst has a 12-month low of $6.02 and a 12-month high of $11.35. The firm has a market capitalization of $859.84 million, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06.

Institutional Trading of Ecovyst

A number of hedge funds have recently modified their holdings of ECVT. Quarry LP increased its stake in shares of Ecovyst by 61.2% in the 2nd quarter. Quarry LP now owns 4,533 shares of the company’s stock valued at $41,000 after purchasing an additional 1,721 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ecovyst during the 2nd quarter valued at approximately $35,000. CWM LLC grew its stake in Ecovyst by 6,920.7% in the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after acquiring an additional 4,014 shares during the period. Arizona State Retirement System raised its position in Ecovyst by 14.0% during the second quarter. Arizona State Retirement System now owns 32,751 shares of the company’s stock worth $294,000 after acquiring an additional 4,031 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ecovyst by 19.8% in the second quarter. The Manufacturers Life Insurance Company now owns 59,633 shares of the company’s stock valued at $535,000 after purchasing an additional 9,840 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Ecovyst Company Profile

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.