GrafTech International (NYSE:EAF) Downgraded by Zacks Research to Hold

Key Points

• GrafTech International has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment about the stock's performance.
• UBS Group has cut its price target for GrafTech from $1.50 to $0.80, while BMO Capital Markets raised it from $1.00 to $1.50, underscoring mixed views among analysts.
• GrafTech's shares will undergo a 1-10 reverse split on August 29th, resulting in an adjustment of the number of shares held by shareholders.

GrafTech International (NYSE:EAF - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on EAF. BMO Capital Markets raised their price objective on shares of GrafTech International from $1.00 to $1.50 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. UBS Group dropped their price objective on shares of GrafTech International from $1.50 to $0.80 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, GrafTech International currently has a consensus rating of "Hold" and an average price target of $1.63.

GrafTech International Price Performance

Shares of EAF stock traded down $0.02 on Thursday, reaching $0.99. 1,132,538 shares of the company were exchanged, compared to its average volume of 2,887,775. The company has a 50-day moving average of $1.17 and a 200-day moving average of $1.02. The company has a market cap of $255.57 million, a price-to-earnings ratio of -1.21 and a beta of 1.63. GrafTech International has a one year low of $0.55 and a one year high of $2.53.

GrafTech International's stock is going to reverse split before the market opens on Friday, August 29th. The 1-10 reverse split was announced on Monday, August 18th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 28th.

GrafTech International (NYSE:EAF - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). The firm had revenue of $131.84 million during the quarter, compared to the consensus estimate of $130.44 million. As a group, sell-side analysts predict that GrafTech International will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in shares of GrafTech International by 50.8% during the fourth quarter. Wells Fargo & Company MN now owns 128,311 shares of the company's stock valued at $222,000 after buying an additional 43,219 shares during the period. Invesco Ltd. grew its stake in GrafTech International by 1.6% during the fourth quarter. Invesco Ltd. now owns 2,751,163 shares of the company's stock valued at $4,760,000 after acquiring an additional 42,268 shares in the last quarter. Raymond James Financial Inc. bought a new stake in GrafTech International during the 4th quarter worth approximately $185,000. Barclays PLC increased its holdings in GrafTech International by 10.4% during the 4th quarter. Barclays PLC now owns 408,430 shares of the company's stock worth $706,000 after acquiring an additional 38,482 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in GrafTech International by 104.9% in the 4th quarter. MetLife Investment Management LLC now owns 130,782 shares of the company's stock worth $226,000 after purchasing an additional 66,964 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company's stock.

About GrafTech International

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.