GrafTech International (NYSE:EAF) Trading Up 2.6% - Here's Why

Key Points

• GrafTech International shares rose 2.6% on Friday, trading as high as $6.09 before closing around $5.91. Volume was below average, with about 206,136 shares traded versus a 387,002-share daily average.
• Recent analyst activity has been mixed, but generally cautious: JPMorgan kept an underweight rating, while BMO lifted its price target to $8 and RBC maintained a $10 target. Overall, MarketBeat data shows an average rating of "Reduce" and a $10.67 average price target.
• The company recently reported a loss of $2.05 per share for the quarter, missing estimates, though revenue of $125.1 million came in above expectations. Analysts currently expect GrafTech to post -6.18 EPS for the full year.

GrafTech International Ltd. (NYSE:EAF - Get Free Report) shares shot up 2.6% during trading on Friday . The company traded as high as $6.09 and last traded at $5.9110. Approximately 206,136 shares were traded during trading, a decline of 47% from the average daily volume of 387,002 shares. The stock had previously closed at $5.76.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EAF. JPMorgan Chase & Co. reissued an "underweight" rating on shares of GrafTech International in a report on Tuesday, April 14th. BMO Capital Markets upped their target price on GrafTech International from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of GrafTech International from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of GrafTech International from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $10.67.

GrafTech International Trading Up 2.6%

The firm has a 50-day simple moving average of $8.15 and a two-hundred day simple moving average of $9.71. The company has a market capitalization of $153.98 million, a price-to-earnings ratio of -0.68 and a beta of 1.84.

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

Institutional Investors Weigh In On GrafTech International

Several hedge funds have recently bought and sold shares of the stock. Intesa Sanpaolo Wealth Management purchased a new position in shares of GrafTech International during the 4th quarter valued at approximately $31,000. Jump Financial LLC purchased a new stake in GrafTech International during the second quarter worth $42,000. Ramsey Quantitative Systems purchased a new stake in GrafTech International during the second quarter worth $69,000. AEGON USA Investment Management LLC acquired a new stake in GrafTech International during the first quarter valued at $102,000. Finally, Krilogy Financial LLC increased its holdings in GrafTech International by 42.9% in the first quarter. Krilogy Financial LLC now owns 20,000 shares of the company's stock valued at $136,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company's stock.

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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