Analysts Set GrafTech International Ltd. (NYSE:EAF) PT at $14.25

Shares of GrafTech International Ltd. (NYSE:EAF) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.25.

Several brokerages recently issued reports on EAF. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GrafTech International in a report on Wednesday, October 8th. Citigroup raised their target price on shares of GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen raised shares of GrafTech International from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st.

Hedge Funds Weigh In On GrafTech International

Several large investors have recently bought and sold shares of EAF. Franklin Resources Inc. boosted its stake in shares of GrafTech International by 57.2% during the second quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock valued at $6,936,000 after purchasing an additional 2,594,562 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new position in GrafTech International in the 2nd quarter valued at approximately $117,000. Caption Management LLC bought a new position in GrafTech International in the 3rd quarter valued at approximately $192,000. Hudson Bay Capital Management LP acquired a new stake in GrafTech International during the 2nd quarter worth approximately $197,000. Finally, Tower Research Capital LLC TRC grew its holdings in GrafTech International by 1,128.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 167,106 shares of the company’s stock worth $163,000 after acquiring an additional 153,500 shares during the last quarter. 92.83% of the stock is currently owned by institutional investors.

GrafTech International Stock Down 2.9%

Shares of EAF stock opened at $16.23 on Friday. The business has a fifty day simple moving average of $14.78 and a 200 day simple moving average of $13.13. The company has a market cap of $419.06 million, a P/E ratio of -2.05 and a beta of 1.72. GrafTech International has a twelve month low of $5.50 and a twelve month high of $20.32.

GrafTech International (NYSE:EAF) last released its earnings results on Friday, October 24th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.19. The business had revenue of $144.00 million during the quarter, compared to the consensus estimate of $139.58 million. As a group, equities research analysts anticipate that GrafTech International will post -0.57 earnings per share for the current fiscal 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.