GrafTech International (NYSE:EAF) Cut to Sell at Wall Street Zen

GrafTech International (NYSE:EAF) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other analysts have also commented on the company. Royal Bank Of Canada decreased their price target on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a research note on Thursday, January 22nd. Finally, Citigroup increased their target price on shares of GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GrafTech International currently has a consensus rating of “Reduce” and an average target price of $11.75.

GrafTech International Stock Down 4.2%

NYSE EAF opened at $6.66 on Friday. GrafTech International has a twelve month low of $5.50 and a twelve month high of $20.32. The stock has a market cap of $171.99 million, a P/E ratio of -0.78 and a beta of 1.63. The company’s 50-day simple moving average is $15.52 and its 200 day simple moving average is $14.00.

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

Institutional Trading of GrafTech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in GrafTech International by 57.2% during the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock worth $6,936,000 after buying an additional 2,594,562 shares in the last quarter. Marshall Wace LLP raised its stake in shares of GrafTech International by 132.8% in the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after acquiring an additional 1,587,052 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its position in shares of GrafTech International by 92.3% during 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 in the last quarter. Jane Street Group LLC grew its stake in shares of GrafTech International by 357.6% during the second quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock valued at $1,633,000 after purchasing an additional 1,311,797 shares during the last quarter. Finally, Sender Co & Partners Inc. increased its holdings in shares of GrafTech International by 169.2% in the second quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company’s stock valued at $1,251,000 after purchasing an additional 808,615 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Company Profile

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.