GrafTech International Ltd. (NYSE:EAF) Stock Has Average Price Target of $10.00

Shares of GrafTech International Ltd. (NYSE:EAF) have been assigned an average recommendation of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.00.

EAF has been the topic of several recent research reports. Wall Street Zen lowered 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 note on Thursday, September 24th. Zacks Research raised GrafTech International from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Finally, Royal Bank Of Canada raised their target price on GrafTech International from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 15th.

GrafTech International Price Performance

Shares of NYSE EAF opened at $12.26 on Thursday. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $19.72. The stock has a market capitalization of $319.76 million, a PE ratio of -1.64 and a beta of 1.85. The business has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $8.54.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, October 23rd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.17. The business had revenue of $140.16 million during the quarter, compared to the consensus estimate of $126.73 million. On average, equities analysts expect that GrafTech International will post -6.50 EPS for the current year.

Institutional Trading of GrafTech International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in shares of GrafTech International during the second quarter valued at about $190,000. Bank of New York Mellon Corp purchased a new position in GrafTech International in the 2nd quarter worth approximately $251,000. Ramsey Quantitative Systems purchased a new position in shares of GrafTech International during the second quarter valued at approximately $69,000. Bank of America Corp DE grew its position in GrafTech International by 4.5% during the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after buying an additional 4,067 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in GrafTech International in the first quarter worth about $823,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

GrafTech International Company Profile

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.