Royal Bank Of Canada Has Lowered Expectations for GrafTech International (NYSE:EAF) Stock Price

GrafTech International (NYSE:EAF) had its target price dropped by Royal Bank Of Canada from $21.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 31.75% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Wall Street Zen upgraded GrafTech International from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Citigroup upped their price target on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $11.75.

GrafTech International Stock Performance

Shares of GrafTech International stock opened at $7.59 on Tuesday. The company has a fifty day moving average of $15.93 and a 200-day moving average of $14.12. GrafTech International has a 52-week low of $5.50 and a 52-week high of $20.32. The stock has a market capitalization of $195.97 million, a price-to-earnings ratio of -0.89 and a beta of 1.63.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, February 6th. The company reported ($2.45) EPS for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The firm had revenue of $116.46 million during the quarter, compared to analysts’ expectations of $140.00 million. On average, equities research analysts forecast that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAF. Vanguard Personalized Indexing Management LLC lifted its position in GrafTech International by 42.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company’s stock valued at $27,000 after buying an additional 8,188 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of GrafTech International in the 4th quarter worth about $157,000. Olympiad Research LP purchased a new position in GrafTech International during the 3rd quarter valued at about $192,000. Prelude Capital Management LLC purchased a new position in GrafTech International during the 3rd quarter valued at about $192,000. Finally, Caption Management LLC bought a new stake in GrafTech International during the third quarter worth about $192,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.