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

GrafTech International (NYSE:EAF) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other analysts have also recently issued reports on the company. Citigroup upped their price objective on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada decreased their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $11.75.

GrafTech International Price Performance

NYSE EAF opened at $6.66 on Friday. The company has a market capitalization of $171.99 million, a price-to-earnings ratio of -0.78 and a beta of 1.63. GrafTech International has a 12 month low of $5.50 and a 12 month high of $20.32. The company’s fifty day moving average price is $15.52 and its two-hundred day moving average price is $14.00.

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

Institutional Investors Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently made changes to their positions in EAF. Yacktman Asset Management LP raised its holdings in GrafTech International by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company’s stock valued at $10,530,000 after acquiring an additional 127,490 shares in the last quarter. Franklin Resources Inc. increased its position 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. Ameriprise Financial Inc. increased its position in shares of GrafTech International by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company’s stock valued at $5,518,000 after purchasing an additional 546,177 shares during the period. Prescott Group Capital Management L.L.C. raised its stake in shares of GrafTech International by 92.3% in the second 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 purchasing an additional 1,512,436 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in GrafTech International by 132.8% in the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after purchasing an additional 1,587,052 shares during the period. 92.83% of the stock is 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.