Ecovyst (NYSE:ECVT) Hits New 12-Month High - Here's What Happened

Shares of Ecovyst Inc. (NYSE:ECVT - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $6.05 and last traded at $6.00, with a volume of 1422239 shares changing hands. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ECVT. BMO Capital Markets decreased their target price 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. BWS Financial reiterated a "buy" rating and set a $12.00 price objective on shares of Ecovyst in a report on Friday, February 28th.

Ecovyst Price Performance

The stock's 50 day simple moving average is $6.27 and its 200-day simple moving average is $7.21. The firm has a market cap of $774.75 million, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. 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 (NYSE:ECVT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. The company had revenue of $162.20 million during the quarter, compared to analysts' expectations of $168.43 million. Ecovyst had a return on equity of 7.07% and a net margin of 7.74%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Equities research analysts anticipate that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Ecovyst

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in Ecovyst by 196.9% during the first quarter. Victory Capital Management Inc. now owns 38,656 shares of the company's stock worth $240,000 after acquiring an additional 25,636 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Ecovyst by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 372,061 shares of the company's stock valued at $2,307,000 after purchasing an additional 4,293 shares during the period. Teacher Retirement System of Texas purchased a new stake in Ecovyst during the first quarter worth $100,000. Harbor Capital Advisors Inc. grew its position in Ecovyst by 8.1% during the first quarter. Harbor Capital Advisors Inc. now owns 2,163,134 shares of the company's stock valued at $13,411,000 after buying an additional 162,690 shares during the period. Finally, UMB Bank n.a. acquired a new position in shares of Ecovyst in the first quarter worth about $3,215,000. 86.69% of the stock is owned by institutional investors and hedge funds.

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.