Ecovyst (NYSE:ECVT) Reaches New 52-Week High – Should You Buy?

Ecovyst Inc. (NYSE:ECVT)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $11.81 and last traded at $11.7750, with a volume of 61064 shares changing hands. The stock had previously closed at $11.64.

Analyst Ratings Changes

ECVT has been the subject of several research reports. Wall Street Zen raised Ecovyst from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ecovyst from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 28th. Citigroup increased their target price on shares of Ecovyst from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, January 21st. BWS Financial reiterated a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a research report on Friday, January 2nd. Finally, KeyCorp cut their price target on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Ecovyst Stock Up 0.7%

The firm has a market cap of $1.34 billion, a PE ratio of -12.60, a PEG ratio of 1.49 and a beta of 1.20. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.25. The company’s 50-day simple moving average is $10.42 and its two-hundred day simple moving average is $9.30.

Institutional Investors Weigh In On Ecovyst

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP grew its position in shares of Ecovyst by 120.9% in the 3rd quarter. Rubric Capital Management LP now owns 10,400,000 shares of the company’s stock worth $91,104,000 after buying an additional 5,692,653 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in Ecovyst in the third quarter worth $25,045,000. Boston Partners raised its stake in Ecovyst by 321.1% in the second quarter. Boston Partners now owns 3,242,285 shares of the company’s stock worth $26,785,000 after buying an additional 2,472,377 shares in the last quarter. Brightline Capital Management LLC bought a new position in Ecovyst in the fourth quarter worth about $19,946,000. Finally, Invenomic Capital Management LP purchased a new stake in Ecovyst in the third quarter worth about $16,729,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Ecovyst

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.