GrafTech International (NYSE:EAF) Stock Lifted to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen upgraded GrafTech International from “strong sell” to “sell,” but the broader analyst consensus remains “Reduce,” with four Hold ratings and two Sell ratings and a $10 average price target.
• GrafTech reported a quarterly loss of $1.21 per share, beating the expected $1.38 loss, while revenue of $140.16 million exceeded estimates of $126.73 million. Analysts expect a full-year loss of $5.87 per share.
• The stock opened at $11.88, compared with a 52-week range of $4.92 to $19.72, and institutional investors own approximately 92.83% of its shares.

GrafTech International (NYSE:EAF - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 24th. Zacks Research upgraded shares of GrafTech International from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of GrafTech International from $7.00 to $8.00 and gave the company a "sector perform" rating in a report on Thursday, October 15th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $10.00.

GrafTech International Stock Down 1.4%

GrafTech International stock opened at $11.88 on Friday. The business's 50-day moving average price is $8.34 and its 200 day moving average price is $8.48. GrafTech International has a 52 week low of $4.92 and a 52 week high of $19.72.

GrafTech International (NYSE:EAF - Get Free Report) last announced its quarterly earnings results on Friday, October 23rd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.38) by $0.17. The company had revenue of $140.16 million during the quarter, compared to analyst estimates of $126.73 million. Sell-side analysts forecast that GrafTech International will post -5.87 EPS for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Several large investors have recently bought and sold shares of the company. Walleye Capital LLC grew its stake in GrafTech International by 77.6% during the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company's stock valued at $1,121,000 after acquiring an additional 72,223 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of GrafTech International during the 1st quarter worth approximately $823,000. Bank of America Corp DE boosted its holdings in shares of 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 purchasing an additional 4,067 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of GrafTech International in the second quarter valued at approximately $251,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of GrafTech International in the second quarter valued at approximately $190,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Company Profile

GrafTech International Ltd. NYSE: EAF manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.

The company's product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.

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