GrafTech International (NYSE:EAF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GrafTech International (NYSE:EAF) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts also recently issued reports on EAF. Zacks Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Finally, Royal Bank Of Canada increased their price target on shares of GrafTech International from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. Four investment 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, GrafTech International has an average rating of “Reduce” and an average price target of $10.00.

GrafTech International Trading Down 4.4%

Shares of NYSE EAF opened at $11.38 on Friday. The business’s fifty day simple moving average is $8.43 and its 200-day simple moving average is $8.45. GrafTech International has a 12-month low of $4.92 and a 12-month high of $19.72.

GrafTech International (NYSE:EAF) last released its earnings results on Friday, October 23rd. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.17. The company had revenue of $140.16 million for the quarter, compared to analyst estimates of $126.73 million. On average, research analysts forecast that GrafTech International will post -5.87 earnings per share for the current fiscal year.

Institutional Trading of GrafTech International

Institutional investors and hedge funds have recently bought and sold shares of the business. Ramsey Quantitative Systems purchased a new stake in shares of GrafTech International in the second quarter valued at about $69,000. Engineers Gate Manager LP acquired a new position in shares of GrafTech International in the second quarter valued at approximately $190,000. Bank of New York Mellon Corp purchased a new stake in shares of GrafTech International during the second quarter worth approximately $251,000. Bank of America Corp DE raised its stake in shares of GrafTech International by 4.5% during the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after purchasing an additional 4,067 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of GrafTech International during the first quarter worth approximately $823,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

About GrafTech International

GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.

The company’s product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.