GrafTech International (NYSE:EAF) Price Target Cut to $10.00 by Analysts at Royal Bank Of Canada

GrafTech International (NYSE:EAF) had its price objective trimmed by Royal Bank Of Canada from $21.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also commented on EAF. Wall Street Zen upgraded GrafTech International from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GrafTech International in a research note on Thursday, January 22nd. Finally, Citigroup boosted their target price on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $11.75.

GrafTech International Stock Performance

Shares of EAF opened at $7.25 on Tuesday. The stock has a market capitalization of $187.20 million, a PE ratio of -0.85 and a beta of 1.63. The company’s fifty day moving average is $16.10 and its 200 day moving average is $14.17. GrafTech International has a fifty-two week low of $5.50 and a fifty-two week high of $20.32.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, February 6th. The company reported ($2.45) EPS for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The business had revenue of $116.46 million for the quarter, compared to analyst estimates of $140.00 million. As a group, research analysts forecast that GrafTech International will post -0.57 earnings per share for the current year.

Institutional Trading of GrafTech International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of GrafTech International by 57.2% during the second quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock valued at $6,936,000 after purchasing an additional 2,594,562 shares during the period. Marshall Wace LLP lifted its holdings in GrafTech International by 132.8% during 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 in the last quarter. Prescott Group Capital Management L.L.C. boosted its position in 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 valued at $3,065,000 after buying an additional 1,512,436 shares during the period. Jane Street Group LLC boosted its position in 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. Finally, Sender Co & Partners Inc. grew its stake in GrafTech International by 169.2% in 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. 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.