GrafTech International Ltd. (NYSE:EAF) Given Average Rating of "Reduce" by Analysts

Key Points

• Analysts rate GrafTech International “Reduce.” Of six covering firms, three recommend selling and three recommend holding; the average 12-month price target is $10.67.
• GrafTech reported a quarterly loss of $1.47 per share, narrowly missing estimates, while revenue of $127.36 million exceeded expectations. Analysts project a full-year loss of $6.45 per share.
• Institutional investors own 92.83% of the company, with several hedge funds increasing their positions. The stock opened at $7.09, versus a 52-week range of $4.92 to $20.32.

GrafTech International Ltd. (NYSE:EAF - Get Free Report) has been assigned a consensus rating of "Reduce" from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $10.6667.

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.00 target price on shares of GrafTech International in a research note on Tuesday, May 5th. Weiss Ratings raised GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Wall Street Zen cut shares of GrafTech International from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded GrafTech International from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th.

Institutional Trading of GrafTech International

Several hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of GrafTech International by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company's stock valued at $5,518,000 after buying an additional 546,177 shares in the last quarter. Marshall Wace LLP raised its stake in shares of GrafTech International by 132.8% during the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company's stock worth $2,699,000 after acquiring an additional 1,587,052 shares in the last quarter. Jane Street Group LLC lifted its position in GrafTech International by 357.6% during the second quarter. Jane Street Group LLC now owns 1,678,655 shares of the company's stock valued at $1,633,000 after acquiring an additional 1,311,797 shares during the last quarter. Sender Co & Partners Inc. lifted its position in GrafTech International by 169.2% during the second quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company's stock valued at $1,251,000 after acquiring an additional 808,615 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in GrafTech International by 26.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,722 shares of the company's stock valued at $17,413,000 after acquiring an additional 236,738 shares during the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Stock Down 1.5%

GrafTech International stock opened at $7.09 on Wednesday. The company's 50-day moving average price is $6.88 and its 200-day moving average price is $7.42. The company has a market cap of $184.98 million, a PE ratio of -1.04 and a beta of 1.84. GrafTech International has a twelve month low of $4.92 and a twelve month high of $20.32.

GrafTech International (NYSE:EAF - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported ($1.47) EPS for the quarter, missing analysts' consensus estimates of ($1.46) by ($0.01). The company had revenue of $127.36 million for the quarter, compared to analysts' expectations of $125.02 million. As a group, sell-side analysts expect that GrafTech International will post -6.45 earnings per share for the current fiscal year.

GrafTech International Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source