GrafTech International Ltd. (NYSE:EAF) Receives Average Rating of “Reduce” from Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have been given an average rating of “Reduce” by the six research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $10.6667.

A number of brokerages have recently issued reports on EAF. BMO Capital Markets upped their target price on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. Wall Street Zen raised GrafTech International from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th.

Hedge Funds Weigh In On GrafTech International

Several institutional investors and hedge funds have recently modified their holdings of EAF. Intesa Sanpaolo Wealth Management acquired a new stake in GrafTech International during the fourth quarter worth about $31,000. Bridgeway Capital Management LLC lifted its holdings in shares of GrafTech International by 9.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 32,200 shares of the company’s stock worth $499,000 after acquiring an additional 2,800 shares during the period. Bank of America Corp DE boosted its position in shares of GrafTech International by 4.5% during the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after acquiring an additional 4,067 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of GrafTech International by 27.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,688 shares of the company’s stock worth $368,000 after acquiring an additional 5,050 shares in the last quarter. Finally, Krilogy Financial LLC increased its stake in GrafTech International by 42.9% in the first quarter. Krilogy Financial LLC now owns 20,000 shares of the company’s stock valued at $136,000 after acquiring an additional 6,000 shares during the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Trading Down 8.7%

Shares of EAF opened at $6.33 on Tuesday. The company has a market cap of $164.77 million, a price-to-earnings ratio of -0.73 and a beta of 1.84. GrafTech International has a 1-year low of $4.92 and a 1-year high of $20.32. The company’s fifty day simple moving average is $7.84 and its 200 day simple moving average is $9.26.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, May 1st. The company reported ($2.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The business had revenue of $125.10 million for the quarter, compared to analysts’ expectations of $120.60 million. As a group, research analysts forecast that GrafTech International will post -6.2 earnings per share for the current year.

GrafTech International Company Profile

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.