GrafTech International (NYSE:EAF) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of GrafTech International (NYSE:EAF) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks reports.

Other equities research analysts have also issued research reports about the company. 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 cut GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $10.67.

GrafTech International Price Performance

NYSE:EAF opened at $7.11 on Monday. The firm has a market capitalization of $185.55 million, a PE ratio of -1.05 and a beta of 1.85. The business’s fifty day moving average price is $6.93 and its 200 day moving average price is $7.41. GrafTech International has a 12 month low of $4.92 and a 12 month high of $20.32.

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

Institutional Investors Weigh In On GrafTech International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC increased 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. Renaissance Technologies LLC acquired a new stake in shares of GrafTech International in the 1st quarter valued at about $823,000. Engineers Gate Manager LP acquired a new stake in shares of GrafTech International in the 2nd quarter valued at about $190,000. Bank of New York Mellon Corp acquired a new stake in shares of GrafTech International in the 2nd quarter valued at about $251,000. Finally, Ramsey Quantitative Systems purchased a new position in GrafTech International during the 2nd quarter worth approximately $69,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.