GrafTech International (NYSE:EAF) Earns “Underweight” Rating from JPMorgan Chase & Co.

GrafTech International (NYSE:EAF)‘s stock had its “underweight” rating reiterated by JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports.

Several other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $11.75.

GrafTech International Stock Performance

GrafTech International stock opened at $7.78 on Tuesday. GrafTech International has a 52-week low of $4.92 and a 52-week high of $20.32. The firm has a 50 day moving average price of $7.14 and a two-hundred day moving average price of $12.61. The firm has a market cap of $202.26 million, a price-to-earnings ratio of -0.92 and a beta of 1.63.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The business had revenue of $116.46 million for the quarter, compared to analysts’ expectations of $140.00 million. As a group, equities research analysts predict that GrafTech International will post -0.57 EPS for the current fiscal year.

Institutional Trading of GrafTech International

Several hedge funds have recently bought and sold shares of the business. Intesa Sanpaolo Wealth Management acquired a new stake in GrafTech International in the 4th quarter valued at $31,000. Bridgeway Capital Management LLC grew its position in GrafTech International by 9.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 32,200 shares of the company’s stock valued at $499,000 after purchasing an additional 2,800 shares during the period. Price T Rowe Associates Inc. MD grew its position in GrafTech International by 27.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,688 shares of the company’s stock valued at $368,000 after purchasing an additional 5,050 shares during the period. Jefferies Financial Group Inc. acquired a new stake in GrafTech International in the 4th quarter valued at $157,000. Finally, 9823 Capital L.P. acquired a new stake in GrafTech International in the 4th quarter valued at $177,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

About GrafTech International

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.