GrafTech International (NYSE:EAF) Earns "Underweight" Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan Chase reaffirmed an "underweight" rating on GrafTech, joining recent downgrades (Wall Street Zen, Weiss) and a lowered RBC price target; the consensus rating is "Reduce" with a $11.75 consensus price target.
• Shares trade around $7.78 (50‑day MA $7.14, 200‑day MA $12.61) with a $202M market cap after a steep quarterly EPS miss (‑$2.45 vs. ‑$1.27 expected) and revenue of $116.5M vs. $140M consensus, leaving analysts forecasting negative FY EPS.

GrafTech International (NYSE:EAF - Get Free Report)'s stock had its "underweight" rating reaffirmed by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other research analysts have also recently commented on EAF. Wall Street Zen cut shares of GrafTech International from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of GrafTech International in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of GrafTech International from $21.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 10th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, GrafTech International has a consensus rating of "Reduce" and a consensus price target of $11.75.

GrafTech International Stock Performance

NYSE:EAF opened at $7.78 on Tuesday. The stock's fifty day moving average price is $7.14 and its two-hundred day moving average price is $12.61. GrafTech International has a 52-week low of $4.92 and a 52-week high of $20.32. The company has a market cap of $202.26 million, a price-to-earnings ratio of -0.92 and a beta of 1.63.

GrafTech International (NYSE:EAF - Get Free Report) last posted its earnings results on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The firm had revenue of $116.46 million during the quarter, compared to the consensus estimate of $140.00 million. On average, equities analysts predict that GrafTech International will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Several hedge funds have recently added to or reduced their stakes in EAF. Intesa Sanpaolo Wealth Management acquired a new stake in GrafTech International during the 4th quarter worth approximately $31,000. Jump Financial LLC acquired a new stake in GrafTech International during the 2nd quarter worth approximately $42,000. Jefferies Financial Group Inc. acquired a new stake in GrafTech International during the 4th quarter worth approximately $157,000. Tower Research Capital LLC TRC boosted its position in GrafTech International by 1,128.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 167,106 shares of the company's stock worth $163,000 after buying an additional 153,500 shares during the period. Finally, 9823 Capital L.P. acquired a new stake in GrafTech International during the 4th quarter worth approximately $177,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Company Profile

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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