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

Shares of GrafTech International Ltd. (NYSE:EAF) have earned an average rating of “Reduce” from the six research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.6667.

A number of brokerages have commented on EAF. BMO Capital Markets boosted their price objective on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th. Wall Street Zen upgraded GrafTech International from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and set a $10.00 price target on shares of GrafTech International in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th.

GrafTech International Trading Down 3.3%

NYSE:EAF opened at $5.70 on Tuesday. The firm’s fifty day simple moving average is $8.09 and its 200 day simple moving average is $9.59. GrafTech International has a twelve month low of $4.92 and a twelve month high of $20.32. The firm has a market capitalization of $148.38 million, a price-to-earnings ratio of -0.66 and a beta of 1.84.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, analysts predict that GrafTech International will post -6.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new stake in GrafTech International during the 2nd quarter valued at $69,000. Bank of America Corp DE increased its stake in GrafTech International by 4.5% during the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after buying an additional 4,067 shares during the period. Renaissance Technologies LLC acquired a new position in GrafTech International in the 1st quarter worth $823,000. Walleye Capital LLC lifted its holdings in GrafTech International by 77.6% in the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after buying an additional 72,223 shares in the last quarter. Finally, AEGON USA Investment Management LLC purchased a new position in GrafTech International in the 1st quarter valued at about $102,000. 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.