GrafTech International Ltd. (NYSE:EAF) Receives Average Rating of “Reduce” from Brokerages

Shares of GrafTech International Ltd. (NYSE:EAF) have earned a consensus rating of “Reduce” from the six ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $11.75.

Several analysts have weighed in on EAF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research note on Thursday, January 22nd. Citigroup lifted their price objective on GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Royal Bank Of Canada dropped their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Wall Street Zen upgraded GrafTech International from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Yacktman Asset Management LP boosted its position in GrafTech International by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company’s stock valued at $10,530,000 after buying an additional 127,490 shares during the period. Franklin Resources Inc. raised 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 acquiring an additional 2,594,562 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of GrafTech International by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company’s stock worth $5,518,000 after purchasing an additional 546,177 shares during the period. Prescott Group Capital Management L.L.C. grew its stake in shares of GrafTech International by 92.3% in the second quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company’s stock worth $3,065,000 after purchasing an additional 1,512,436 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in GrafTech International by 132.8% during the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock valued at $2,699,000 after purchasing an additional 1,587,052 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Price Performance

Shares of EAF opened at $6.66 on Friday. The firm has a market cap of $171.99 million, a P/E ratio of -0.78 and a beta of 1.63. The stock has a 50 day simple moving average of $15.52 and a two-hundred day simple moving average of $14.00. GrafTech International has a 1 year low of $5.50 and a 1 year high of $20.32.

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