The Vanguard Group, Inc. recently announced the acquisition of new stake in Ecovyst Inc. (NYSE:ECVT). The institutional investor has increased its shareholding in the Basic Materials company by 14.96% to 8.35 million shares with purchase of 1.09 million shares. This fresh investment now brings its stake to 6.41% valued currently at $83.86 million. In addition, Westwood Management Corp. raised its holdings by 0.79 million to 6.16 million shares. And BlackRock Fund Advisors has lifted its position by 9.72% or 0.51 million shares – to 5.78 million shares.
With over 1.92 million Ecovyst Inc. (ECVT) shares trading Monday and a closing price of $10.06 on the day, the dollar volume was approximately $19.36 million. The shares have shown a positive half year performance of 6.34% and its price on 03/13/23 lost nearly -3.92%. Currently, there are 126.06M common shares owned by the public and among those 91.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for ECVT have a consensus price objective of $14.93. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $11.00. The average price target is 32.62% above its recent price level and an upside to the estimated low will see the stock gain 8.55% over that period. But an upside of 44.11% will see the stock hit the forecast high price target while median target price for the stock is $14.00.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 840,801 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 70,172,286 shares.
The top 3 mutual fund holders in Ecovyst Inc. are Allspring Special Small Cap Value, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. Allspring Special Small Cap Value owns 3.93 million shares of the company’s stock, all valued at over $39.49 million. The company sold 10000.0 shares recently to bring their total holdings to about 3.02% of the shares outstanding. Vanguard Small Cap Index Fund bought 11943.0 shares to bring its total holdings to over 2.19 million shares at a value of $22.02 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.68% of the shares outstanding.
Shares of Ecovyst Inc. (NYSE: ECVT) opened at $10.31, down -$0.16 from a prior closing price of $10.47. However, the script later moved the day high at 10.42, down -3.92%. The company’s stock has a 5-day price change of -6.59% and 13.29% over the past three months. ECVT shares are trading 13.54% year to date (YTD), with the 12-month market performance down to -7.02% lower. It has a 12-month low price of $8.20 and touched a high of $12.05 over the same period. ECVT has an average intraday trading volume of 820.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.36%, -1.70%, and 3.98% respectively.
Institutional ownership of Ecovyst Inc. (NYSE: ECVT) shares accounts for 76.20% of the company’s 126.06M shares outstanding. Mutual fund holders own 28.94%, while other institutional holders and individual stakeholders account for 29.79% and 28.02% respectively.
It has a market capitalization of $1.25B and a beta (3y monthly) value of 0.89. The stock’s trailing 12-month PE ratio is 19.27, while the earnings-per-share (ttm) stands at $0.52. The company has a PEG of 0.80 and a Quick Ratio of 1.70 with the debt-to-equity ratio at 1.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.45% over the week and 2.78% over the month.
Analysts forecast that Ecovyst Inc. (ECVT) will achieve an EPS of $0.23 for the current quarter, $0.18 for the next quarter and $0.99 for 2023. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 16.70%, and 24.87% over the next financial year. EPS should grow at an annualized rate of 24.21% over the next five years, compared to 22.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Ecovyst Inc. (ECVT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ECVT, a number of firms have released research notes about the stock. BWS Financial stated their Buy rating for the stock in a research note on March 23, 2022, with the firm’s price target at $18. Citigroup coverage for the Ecovyst Inc. (ECVT) stock in a research note released on November 29, 2021 offered a Neutral rating with a price target of $10.80.
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