GrafTech International Ltd. (NYSE:EAF) Given Consensus Rating of “Reduce” by Analysts

GrafTech International Ltd. (NYSE:EAF) has received an average recommendation of “Reduce” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.6667.

Several equities research analysts recently issued reports on EAF shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.00 target price on shares of GrafTech International in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of GrafTech International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Zacks Research cut shares of GrafTech International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, BMO Capital Markets raised their price objective on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 4th.

Institutional Investors Weigh In On GrafTech International

A number of institutional investors have recently bought and sold shares of EAF. Bank of New York Mellon Corp purchased a new position in shares of GrafTech International in the second quarter valued at about $251,000. Ramsey Quantitative Systems bought a new position in shares of GrafTech International in the second quarter worth about $69,000. Bank of America Corp DE grew its position 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of GrafTech International during the first quarter worth about $823,000. Finally, Walleye Capital LLC grew its position in shares of GrafTech International by 77.6% during the first quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after purchasing an additional 72,223 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Performance

Shares of GrafTech International stock opened at $7.67 on Friday. GrafTech International has a one year low of $4.92 and a one year high of $20.32. The stock’s fifty day moving average is $7.18 and its 200 day moving average is $8.09. The stock has a market cap of $200.11 million, a P/E ratio of -1.13 and a beta of 1.83.

GrafTech International (NYSE:EAF) last released its earnings results on Friday, July 24th. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.01). The company had revenue of $127.36 million during the quarter, compared to the consensus estimate of $125.02 million. Analysts predict that GrafTech International will post -6.45 EPS for the current year.

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.