GrafTech International Ltd. (NYSE:EAF) Stock Rated “Reduce” by Wall Street Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have received a consensus rating of “Reduce” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.67.

Several research analysts have recently issued reports on EAF shares. Wall Street Zen cut GrafTech International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Walleye Capital LLC increased its position in shares of GrafTech International by 77.6% in the first quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after acquiring an additional 72,223 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of GrafTech International in the 1st quarter valued at approximately $823,000. Bank of America Corp DE lifted its position 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in GrafTech International in the 2nd quarter worth approximately $251,000. Finally, Engineers Gate Manager LP acquired a new position in GrafTech International in the 2nd quarter worth approximately $190,000. Institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Performance

Shares of GrafTech International stock opened at $9.35 on Friday. GrafTech International has a 1 year low of $4.92 and a 1 year high of $20.32. The firm’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $7.70. The firm has a market cap of $244.05 million, a PE ratio of -1.38 and a beta of 1.85.

GrafTech International (NYSE:EAF) last posted its quarterly earnings results on Friday, July 24th. The company reported ($1.47) earnings per share (EPS) 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 analyst estimates of $125.02 million. On average, equities analysts predict that GrafTech International will post -6.45 earnings per share for the current year.

About GrafTech International

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.