Ecovyst

ECVT · NYSE

$10.07−$0.06 (−0.59%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $10.13

ECVT analyst rating

BuyConsensus of 6 analysts over the last 12 months. 83% rate it a buy.

Strong buy0
Buy5
Hold1
Underperform0
Sell0

12-month price target · 8 analysts

Average $15.47 (+53.6% upside)

Low: $13.13
Now: $10.07
High: $17.85

Upgrades and downgrades

The latest rating actions, newest first

ECVT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Freedom Capital Markets	Sep 16, 2026	Maintains	Buy	$15.00	65%
BWS Financial	Aug 6, 2026	Maintains	Buy	$16.00	56%
Freedom Capital Markets	Jun 29, 2026	Initiates	Buy	$15.00	—
Citigroup	Jun 24, 2026	Maintains	Neutral	$16.00 → $14.50	53%
Citigroup	May 6, 2026	Maintains	Neutral	$15.00 → $16.00	53%
Citigroup	Apr 13, 2026	Maintains	Neutral	$13.00 → $15.00	53%
BWS Financial	Mar 2, 2026	Maintains	Buy	$12.00 → $16.00	56%
Citigroup	Mar 2, 2026	Maintains	Neutral	$12.00 → $13.00	53%
Keybanc	Feb 27, 2026	Maintains	Overweight	$11.00 → $14.00	50%
Citigroup	Jan 21, 2026	Maintains	Neutral	$10.00 → $12.00	53%

The case for and against

Updated Oct 16, 2026

Bull case

Ecovyst is well positioned by resilient demand in sulfuric acid and regeneration, with management citing broad-based strength that lifted second-quarter revenue to approximately $250.0 million and adjusted EBITDA to $53.1 million. Its outlook is further supported by accretive M&A, as the Calabrian acquisition is expected to add to 2H results and help drive FY26 guidance to $1,020MM-$1,060MM of revenue and $195MM-$205MM of adjusted EBITDA, versus $172 million in FY25. The company also benefits from elevated sulfur pricing and pass-through dynamics, with the benchmark Tampa sulfur contract at a record $705 per metric ton for the quarter ended September 30, 2026, while adjusted free cash flow could reach approximately $50 million.

Bear case

Ecovyst is facing a negative setup because investors appear to be overestimating its exposure to elevated elemental sulfur and sulfuric acid spot prices, while roughly 90%+ of sulfuric acid sales are supported by formula-based contracts that dampen upside and can limit perceived pricing leverage. Despite a solid 2Q earnings beat and higher full-year guidance, the stock has drifted about 15% lower since results, suggesting skepticism about how much of the improvement is sustainable versus tied to temporary market tightness and acquisition benefits from Calabrian and Waggaman. Leverage and liquidity also constrain flexibility, with $497 million of gross debt, $178 million of total liquidity, and net debt/TTM adjusted EBITDA of about 2.0x as of June 30, 2026, while $36 million in buybacks and a $183 million acquisition exceeded expected FY26 free cash flow of $45 million to $55 million.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.