BMO Capital Markets Boosts GrafTech International (NYSE:EAF) Price Target to $8.00

Key Points

• BMO Capital Markets raised its price target on GrafTech from $6.00 to $8.00 while maintaining a "market perform" rating, with the $8 target implying roughly a 5.7% downside from the prior close.
• MarketBeat's consensus is a Reduce rating with a $10.00 consensus target, based on five Hold and two Sell analyst ratings, signaling overall cautious sentiment.
• GrafTech reported a significant EPS miss for the quarter (−$2.05 vs. −$1.25 expected) despite a slight revenue beat, has a projected FY EPS of −4.95, and trades around $8.48 with a market cap near $220 million.

GrafTech International (NYSE:EAF - Get Free Report) had its price target boosted by equities researchers at BMO Capital Markets from $6.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' target price points to a potential downside of 5.68% from the company's previous close.

A number of other brokerages have also recently weighed in on EAF. JPMorgan Chase & Co. reissued an "underweight" rating on shares of GrafTech International in a research note on Tuesday, April 14th. Royal Bank Of Canada dropped their price objective on shares of GrafTech International from $21.00 to $10.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 10th. Wall Street Zen cut shares of GrafTech International from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of GrafTech International in a research note on Tuesday, April 21st. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GrafTech International currently has a consensus rating of "Reduce" and a consensus target price of $10.00.

GrafTech International Price Performance

Shares of EAF opened at $8.48 on Monday. The firm has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $11.97. GrafTech International has a 1-year low of $4.92 and a 1-year high of $20.32. The stock has a market cap of $220.45 million, a price-to-earnings ratio of -0.98 and a beta of 1.73.

GrafTech International (NYSE:EAF - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported ($2.05) earnings per share for the quarter, missing analysts' consensus estimates of ($1.25) by ($0.80). The firm had revenue of $125.10 million for the quarter, compared to analyst estimates of $120.60 million. On average, equities analysts expect that GrafTech International will post -4.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Intesa Sanpaolo Wealth Management acquired a new position in GrafTech International in the 4th quarter valued at $31,000. Jump Financial LLC acquired a new position in GrafTech International in the 2nd quarter valued at $42,000. AEGON USA Investment Management LLC acquired a new position in GrafTech International in the 1st quarter valued at $102,000. Krilogy Financial LLC raised its holdings in GrafTech International by 42.9% in the 1st quarter. Krilogy Financial LLC now owns 20,000 shares of the company's stock valued at $136,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in GrafTech International in the 4th quarter valued at $157,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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