GrafTech International (NYSE:EAF) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded GrafTech International from “sell” to “strong sell,” while the broader analyst consensus is “Reduce” with a $10.67 price target.
• GrafTech shares opened at $6.67, below their 50-day and 200-day moving averages, despite rising 2.8%; the stock has traded between $4.92 and $20.32 over the past year.
• The company reported a quarterly loss of $1.47 per share, narrowly missing estimates, although revenue of $127.36 million exceeded the $125.02 million consensus forecast.

GrafTech International (NYSE:EAF - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

Several other equities analysts have also issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $10.00 target price on shares of GrafTech International in a research note on Tuesday, May 5th. Zacks Research downgraded GrafTech International from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. BMO Capital Markets boosted their price target on shares of GrafTech International from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of GrafTech International in a research report on Tuesday, April 14th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $10.67.

GrafTech International Stock Up 2.8%

Shares of NYSE EAF opened at $6.67 on Friday. The firm has a market cap of $173.99 million, a price-to-earnings ratio of -0.98 and a beta of 1.84. GrafTech International has a 52-week low of $4.92 and a 52-week high of $20.32. The business's 50 day moving average is $7.52 and its two-hundred day moving average is $8.71.

GrafTech International (NYSE:EAF - Get Free Report) last released 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 business had revenue of $127.36 million during the quarter, compared to the consensus estimate of $125.02 million. Analysts anticipate that GrafTech International will post -6.45 EPS for the current fiscal year.

Institutional Trading of GrafTech International

A number of large investors have recently modified their holdings of EAF. Marshall Wace LLP raised its stake in GrafTech International by 132.8% in the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company's stock valued at $2,699,000 after buying an additional 1,587,052 shares in the last quarter. Jane Street Group LLC lifted its holdings in GrafTech International by 357.6% during the 2nd quarter. Jane Street Group LLC now owns 1,678,655 shares of the company's stock worth $1,633,000 after buying an additional 1,311,797 shares during the last quarter. Sender Co & Partners Inc. boosted its position in shares of GrafTech International by 169.2% during the 2nd quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company's stock worth $1,251,000 after acquiring an additional 808,615 shares in the last quarter. Benefit Street Partners LLC acquired a new position in shares of GrafTech International during the 4th quarter worth about $11,060,000. Finally, AQR Capital Management LLC increased its holdings in shares of GrafTech International by 5,083.2% in the 1st quarter. AQR Capital Management LLC now owns 635,663 shares of the company's stock valued at $556,000 after acquiring an additional 623,399 shares during the last quarter. Hedge funds and other institutional investors own 92.83% of the company's stock.

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.

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.