GrafTech International (NYSE:EAF) Stock Rating Upgraded by Zacks Research

GrafTech International (NYSE:EAF) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other brokerages have also weighed in on EAF. Wall Street Zen lowered GrafTech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Weiss Ratings lowered GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. 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.com, the stock presently has a consensus rating of “Reduce” and an average target price of $10.67.

GrafTech International Stock Performance

GrafTech International stock opened at $7.11 on Monday. The company has a 50 day moving average price of $6.93 and a 200-day moving average price of $7.41. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $20.32. The company has a market capitalization of $185.55 million, a PE ratio of -1.05 and a beta of 1.85.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, July 24th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The company had revenue of $127.36 million during the quarter, compared to analysts’ expectations of $125.02 million. On average, analysts forecast that GrafTech International will post -6.45 earnings per share for the current year.

Hedge Funds Weigh In On GrafTech International

A number of hedge funds and other institutional investors have recently modified their holdings of EAF. Engineers Gate Manager LP bought a new position in GrafTech International in the second quarter worth approximately $190,000. Bank of New York Mellon Corp bought a new stake in GrafTech International during the 2nd quarter valued at $251,000. Ramsey Quantitative Systems bought a new stake in GrafTech International during the 2nd quarter valued at $69,000. Bank of America Corp DE increased its holdings in shares of GrafTech International by 4.5% in the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after acquiring an additional 4,067 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of GrafTech International in the 1st quarter valued at $823,000. 92.83% of the stock is currently owned by institutional investors.

GrafTech International Company Profile

GrafTech International Inc is a manufacturer of graphite electrodes and related carbon-based products used primarily in electric arc furnaces (EAFs) for steel production. Its electrodes conduct electricity at extremely high temperatures, enabling the melting of steel scrap and other metallic materials. The company also produces petroleum needle coke, a specialized raw material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers in North America, Europe, Asia, and other international markets.