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

GrafTech International Ltd. (NYSE:EAF) has earned an average recommendation of “Reduce” from the six analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $10.6667.

EAF has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price on shares of GrafTech International in a research report on Tuesday, May 5th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of GrafTech International in a research note on Tuesday, April 14th. Wall Street Zen upgraded shares of GrafTech International from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. BMO Capital Markets increased their price objective on shares of GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday.

GrafTech International Stock Down 0.4%

Shares of GrafTech International stock opened at $9.06 on Monday. The firm has a market cap of $236.07 million, a PE ratio of -1.05 and a beta of 1.73. GrafTech International has a 52 week low of $4.92 and a 52 week high of $20.32. The business’s fifty day simple moving average is $7.75 and its 200-day simple moving average is $11.31.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The company had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $120.60 million. As a group, equities analysts expect that GrafTech International will post -6.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Intesa Sanpaolo Wealth Management acquired a new position in GrafTech International during the 4th quarter worth about $31,000. Bridgeway Capital Management LLC boosted its holdings in GrafTech International by 9.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 32,200 shares of the company’s stock valued at $499,000 after acquiring an additional 2,800 shares during the period. Bank of America Corp DE grew its position in GrafTech International by 4.5% in the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after acquiring an additional 4,067 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in GrafTech International by 27.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,688 shares of the company’s stock valued at $368,000 after acquiring an additional 5,050 shares in the last quarter. Finally, Krilogy Financial LLC increased its stake in GrafTech International by 42.9% during the first quarter. Krilogy Financial LLC now owns 20,000 shares of the company’s stock worth $136,000 after purchasing an additional 6,000 shares during the period. 92.83% of the stock is currently 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.