GrafTech International Ltd. (NYSE:EAF) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• GrafTech International received an average “Reduce” rating from six analysts, split between three sells and three holds. The average 12-month price target is $10.67, versus a recent share price of $8.10.
• The company reported a quarterly loss of $1.47 per share, narrowly missing estimates, while revenue of $127.36 million exceeded analyst expectations. Analysts expect a full-year loss of approximately $6.45 per share.
• Institutional investors own 92.83% of GrafTech’s shares, with several firms recently initiating or increasing positions; the stock remains well below its one-year high of $20.32.

Shares of GrafTech International Ltd. (NYSE:EAF - Get Free Report) have been given an average rating of "Reduce" by the six analysts that are covering the stock, MarketBeat reports. Three 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 analysts that have covered the stock in the last year is $10.6667.

Several research firms recently weighed in on EAF. BMO Capital Markets upped their price target on GrafTech International from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Monday, May 4th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of GrafTech International in a report on Tuesday, April 14th. Zacks Research cut GrafTech International from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th.

Institutional Trading of GrafTech International

Several institutional investors have recently bought and sold shares of the company. Intesa Sanpaolo Wealth Management bought a new stake in GrafTech International during the 4th quarter valued at about $31,000. Jump Financial LLC bought a new position in shares of GrafTech International in the second quarter worth approximately $42,000. Ramsey Quantitative Systems purchased a new stake in shares of GrafTech International during the second quarter valued at approximately $69,000. AEGON USA Investment Management LLC purchased a new stake in shares of GrafTech International during the first quarter valued at approximately $102,000. Finally, Krilogy Financial LLC increased its position in shares of GrafTech International by 42.9% during the first 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 in the last quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Price Performance

NYSE:EAF opened at $8.10 on Friday. GrafTech International has a one year low of $4.92 and a one year high of $20.32. The company's 50-day simple moving average is $7.34 and its 200 day simple moving average is $8.36. The firm has a market capitalization of $211.41 million, a P/E ratio of -1.19 and a beta of 1.83.

GrafTech International (NYSE:EAF - Get Free Report) last announced its 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 business had revenue of $127.36 million for the quarter, compared to analyst estimates of $125.02 million. On average, equities research analysts expect that GrafTech International will post -6.45 earnings per share for the current fiscal 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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