GrafTech International (NYSE:EAF) Raised to Sell at Wall Street Zen

Key Points

• GrafTech International was raised by Wall Street Zen from a “strong sell” to a “sell” rating, though the broader analyst view remains cautious with a consensus rating of “Reduce.”
• The company recently reported quarterly earnings of ($2.05) EPS, missing estimates by $0.80, even as revenue of $125.1 million came in slightly above expectations.
• The stock was trading up 3.7% at $9.29, but it remains well below its 52-week high of $20.32 and below its 200-day moving average of $11.79.

GrafTech International (NYSE:EAF - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday.

Several other analysts have also commented on EAF. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.00 price objective on shares of GrafTech International in a report on Tuesday. JPMorgan Chase & Co. reissued an "underweight" rating on shares of GrafTech International in a report on Tuesday, April 14th. Weiss Ratings lowered GrafTech International from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday. Finally, BMO Capital Markets raised their price objective on GrafTech International from $6.00 to $8.00 and gave the company a "market perform" rating in a report on Monday, May 4th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $10.00.

GrafTech International Trading Up 3.7%

Shares of EAF opened at $9.29 on Friday. GrafTech International has a 12 month low of $4.92 and a 12 month high of $20.32. The stock's 50 day moving average is $7.17 and its two-hundred day moving average is $11.79. The firm has a market cap of $241.87 million, a P/E ratio of -1.07 and a beta of 1.73.

GrafTech International (NYSE:EAF - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported ($2.05) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.80). The business had revenue of $125.10 million during the quarter, compared to the consensus estimate of $120.60 million. Equities research analysts forecast that GrafTech International will post -6.18 EPS for the current year.

Institutional Trading of GrafTech International

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised 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 buying an additional 623,399 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of GrafTech International in the 2nd quarter valued at $182,000. Marshall Wace LLP raised its holdings in shares of GrafTech International by 132.8% in the 2nd 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 during the period. Jump Financial LLC purchased a new stake in shares of GrafTech International in the 2nd quarter valued at $42,000. Finally, Jane Street Group LLC raised its holdings in shares of GrafTech International by 357.6% in the 2nd 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. 92.83% of the stock is owned by institutional investors and hedge funds.

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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