GrafTech International Ltd. (NYSE:EAF) Stock Has Consensus Price Target of $10.00 According to Analysts

Key Points

• Analysts remain cautious on GrafTech International: Six analysts give the stock an average “Reduce” rating, including two sells and four holds, with a consensus 12-month price target of $10.00.
• Institutional ownership is substantial, with investors holding 92.83% of the company’s shares; several funds recently increased or initiated positions.
• GrafTech reported a quarterly loss of $1.47 per share, narrowly missing estimates, while revenue of $127.36 million exceeded expectations. Shares opened at $7.42 and have traded between $4.92 and $19.72 over the past year.

GrafTech International Ltd. (NYSE:EAF - Get Free Report) has received an average recommendation of "Reduce" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.00.

EAF has been the subject of a number of research analyst reports. 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. Royal Bank Of Canada upped 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. Weiss Ratings raised shares of GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 24th. Finally, Zacks Research raised shares of GrafTech International from a "strong sell" rating to a "hold" rating in a research report on Monday, September 14th.

Institutional Trading of GrafTech International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in GrafTech International by 4.5% in the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company's stock valued at $640,000 after acquiring an additional 4,067 shares during the period. Krilogy Financial LLC lifted its position in GrafTech International by 42.9% during the first quarter. Krilogy Financial LLC now owns 20,000 shares of the company's stock worth $136,000 after acquiring an additional 6,000 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in GrafTech International during the second quarter worth approximately $69,000. AEGON USA Investment Management LLC acquired a new stake in GrafTech International during the first quarter worth approximately $102,000. Finally, Engineers Gate Manager LP acquired a new stake in GrafTech International during the second quarter worth approximately $190,000. Institutional investors own 92.83% of the company's stock.

GrafTech International Trading Up 6.8%

Shares of NYSE EAF opened at $7.42 on Thursday. The company has a market capitalization of $193.72 million, a P/E ratio of -1.09 and a beta of 1.85. GrafTech International has a 12 month low of $4.92 and a 12 month high of $19.72. The stock has a 50 day moving average of $7.84 and a 200-day moving average of $7.88.

GrafTech International (NYSE:EAF - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The company reported ($1.47) earnings per share 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 analyst estimates of $125.02 million. Analysts predict that GrafTech International will post -6.50 EPS for the current fiscal year.

About GrafTech International

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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