GrafTech International (NYSE:EAF) Trading 6.5% Higher - Still a Buy?

Key Points

• GrafTech International's stock rose 6.5%, trading at $17.65 after a previous close of $16.58, despite a decline in average trading volume.
• Analysts have mixed opinions on the stock; Weiss Ratings maintains a "sell (d-)" rating, while BMO Capital Markets recently increased its target price from $10.00 to $15.00.
• In the latest earnings report, GrafTech posted a loss of ($1.60) per share, missing expectations, but revenues were slightly above consensus estimates at $131.84 million.

Shares of GrafTech International Ltd. (NYSE:EAF - Get Free Report) traded up 6.5% during mid-day trading on Wednesday . The company traded as high as $18.23 and last traded at $17.65. 309,505 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 338,453 shares. The stock had previously closed at $16.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GrafTech International in a research note on Wednesday. BMO Capital Markets upped their target price on GrafTech International from $10.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Finally, Zacks Research lowered GrafTech International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $16.25.

GrafTech International Trading Up 6.5%

The company has a market cap of $455.72 million, a PE ratio of -2.15 and a beta of 1.71. The business has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $10.34.

GrafTech International (NYSE:EAF - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($1.60) earnings per share for the quarter, missing analysts' consensus estimates of ($1.20) by ($0.40). The business had revenue of $131.84 million during the quarter, compared to the consensus estimate of $130.44 million. On average, equities research analysts expect that GrafTech International Ltd. will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Yacktman Asset Management LP raised its position in shares of GrafTech International by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company's stock worth $10,530,000 after buying an additional 127,490 shares during the period. Franklin Resources Inc. raised its position in shares of GrafTech International by 57.2% in the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company's stock worth $6,936,000 after buying an additional 2,594,562 shares during the period. Ameriprise Financial Inc. raised its position in shares of GrafTech International by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company's stock worth $5,518,000 after buying an additional 546,177 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of GrafTech International by 34.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,619,905 shares of the company's stock worth $4,040,000 after buying an additional 1,179,988 shares during the period. Finally, Prescott Group Capital Management L.L.C. raised its position in shares of GrafTech International by 92.3% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company's stock worth $3,065,000 after buying an additional 1,512,436 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Company Profile

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.

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