BMO Capital Markets Forecasts Strong Price Appreciation for Ecovyst (NYSE:ECVT) Stock

Ecovyst (NYSE:ECVT) had its target price upped by research analysts at BMO Capital Markets from $9.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 19.76% from the company’s current price.

A number of other brokerages have also recently commented on ECVT. BWS Financial reaffirmed a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Friday, November 1st. KeyCorp lowered their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, August 5th.

Ecovyst Trading Down 3.1 %

NYSE:ECVT traded down $0.27 during trading hours on Tuesday, reaching $8.35. The company’s stock had a trading volume of 208,712 shares, compared to its average volume of 879,197. The firm has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.87. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54. Ecovyst has a 1 year low of $6.02 and a 1 year high of $11.35. The firm has a market capitalization of $972.86 million, a price-to-earnings ratio of 18.15, a PEG ratio of 1.78 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in Ecovyst during the 3rd quarter worth approximately $2,087,000. Bank of New York Mellon Corp increased its position in Ecovyst by 27.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 459,343 shares of the company’s stock worth $4,120,000 after purchasing an additional 98,719 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Ecovyst by 84.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,756,363 shares of the company’s stock worth $12,031,000 after purchasing an additional 805,128 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Ecovyst by 20.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,729,796 shares of the company’s stock valued at $15,516,000 after buying an additional 292,637 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in 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 last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.