Royal Bank Of Canada Issues Positive Forecast for GrafTech International (NYSE:EAF) Stock Price

Key Points

• Royal Bank of Canada raised GrafTech International’s price target from $7.00 to $8.00 while maintaining a “sector perform” rating, implying approximately 6% upside from the prior close.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and two rate it “Sell,” resulting in an overall “Reduce” rating and an average target price of $10.00.
• GrafTech’s shares fell 2.4% to $7.54, and the company reported a quarterly EPS loss of $1.47, slightly worse than estimates, despite revenue exceeding expectations.

GrafTech International (NYSE:EAF - Get Free Report) had its price target raised by investment analysts at Royal Bank Of Canada from $7.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 6.04% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings raised GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 24th. Wall Street Zen cut shares of GrafTech International from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded shares of GrafTech International from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $10.00.

GrafTech International Trading Down 2.4%

Shares of GrafTech International stock traded down $0.19 on Thursday, hitting $7.54. The stock had a trading volume of 41,565 shares, compared to its average volume of 379,463. GrafTech International has a 52-week low of $4.92 and a 52-week high of $19.72. The stock has a market cap of $196.84 million, a price-to-earnings ratio of -1.11 and a beta of 1.85. The company's 50 day moving average price is $7.90 and its 200 day moving average price is $7.86.

GrafTech International (NYSE:EAF - Get Free Report) last announced its earnings results on Friday, July 24th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.46) by ($0.01). The company had revenue of $127.36 million during the quarter, compared to analysts' expectations of $125.02 million. Analysts predict that GrafTech International will post -6.50 EPS for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in shares of GrafTech International in the 2nd quarter valued at approximately $190,000. Bank of New York Mellon Corp acquired a new position in shares of GrafTech International in the second quarter valued at approximately $251,000. Ramsey Quantitative Systems acquired a new position in shares of GrafTech International in the second quarter valued at approximately $69,000. Bank of America Corp DE raised its stake in shares of GrafTech International by 4.5% during the first 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. Finally, Renaissance Technologies LLC purchased a new stake in shares of GrafTech International during the first quarter worth approximately $823,000. Institutional investors and hedge funds own 92.83% of the company's stock.

GrafTech International Company Profile

GrafTech International Ltd. NYSE: EAF manufactures graphite electrodes and related carbon-based products used primarily in electric arc furnace steelmaking. Its graphite electrodes conduct electricity at extremely high temperatures, enabling steel producers to melt scrap steel and other metallic inputs. The company also produces petroleum needle coke, a specialty carbon material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers worldwide, supplying products through manufacturing and distribution operations in North America, Europe and other international markets.

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