GrafTech International Ltd. (NYSE:EAF) Receives Average Rating of "Reduce" from Analysts

Key Points

• GrafTech International has an average analyst rating of “Reduce”, with six analysts covering the stock: two sell ratings and four hold ratings. The average 1-year price target is about $10.67.
• The company recently reported a larger-than-expected loss, posting EPS of ($2.05) versus estimates of ($1.25), though revenue of $125.1 million came in slightly above forecasts.
• GrafTech’s shares were trading around $5.70, near the low end of their 12-month range of $4.92 to $20.32, and the company has a relatively small market cap of about $148.4 million.

Shares of GrafTech International Ltd. (NYSE:EAF - Get Free Report) have received an average recommendation of "Reduce" from the six analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.6667.

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of GrafTech International from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 29th. BMO Capital Markets boosted their price objective on shares of GrafTech International from $6.00 to $8.00 and gave the company a "market perform" rating in a research note on Monday, May 4th. Wall Street Zen upgraded GrafTech International from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $10.00 target price on shares of GrafTech International in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of GrafTech International in a report on Tuesday, April 14th.

Hedge Funds Weigh In On GrafTech International

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of GrafTech International by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company's stock worth $5,518,000 after purchasing an additional 546,177 shares during the period. Marshall Wace LLP increased its position in 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 purchasing an additional 1,587,052 shares in the last quarter. Jane Street Group LLC raised its holdings in GrafTech International by 357.6% in the second quarter. Jane Street Group LLC now owns 1,678,655 shares of the company's stock valued at $1,633,000 after buying an additional 1,311,797 shares during the period. Sender Co & Partners Inc. raised its holdings in GrafTech International by 169.2% in the second quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company's stock valued at $1,251,000 after buying an additional 808,615 shares during the period. 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 buying an additional 236,738 shares in the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Price Performance

NYSE EAF opened at $5.70 on Tuesday. GrafTech International has a 12 month low of $4.92 and a 12 month high of $20.32. The company has a 50-day moving average of $8.09 and a 200-day moving average of $9.59. The company has a market cap of $148.38 million, a P/E ratio of -0.66 and a beta of 1.84.

GrafTech International (NYSE:EAF - Get Free Report) last released its earnings results on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.80). The company had revenue of $125.10 million for the quarter, compared to analyst estimates of $120.60 million. As a group, equities research analysts anticipate that GrafTech International will post -6.18 EPS for the current year.

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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