KeyCorp Trims Ecovyst (NYSE:ECVT) Target Price to $10.00

Ecovyst (NYSE:ECVT) had its target price lowered by KeyCorp from $13.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 55.04% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BWS Financial lowered their price target on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday. Citigroup dropped their target price on Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 12th.

Ecovyst Price Performance

Shares of NYSE:ECVT traded down $0.24 during trading on Monday, hitting $6.45. 1,125,116 shares of the stock were exchanged, compared to its average volume of 788,827. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 1.21. The company has a market cap of $754.68 million, a PE ratio of 10.33, a P/E/G ratio of 0.47 and a beta of 1.05. The company has a fifty day moving average price of $9.13 and a two-hundred day moving average price of $9.53. Ecovyst has a 12-month low of $6.05 and a 12-month high of $11.35.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $182.80 million for the quarter, compared to analysts’ expectations of $189.79 million. Ecovyst had a return on equity of 7.93% and a net margin of 8.14%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, analysts forecast that Ecovyst will post 0.74 EPS for the current year.

Institutional Trading of Ecovyst

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Ecovyst during the second quarter worth approximately $35,000. CWM LLC lifted its holdings in shares of Ecovyst by 6,920.7% in the second quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after buying an additional 4,014 shares during the period. Quest Partners LLC bought a new position in Ecovyst during the fourth quarter valued at about $78,000. Paloma Partners Management Co bought a new stake in Ecovyst in the first quarter worth about $114,000. Finally, SG Americas Securities LLC acquired a new stake in Ecovyst in the 2nd quarter valued at about $95,000. 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.