GrafTech International’s (EAF) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of GrafTech International (NYSE:EAF) in a research note released on Tuesday, MarketBeat.com reports.

EAF has been the subject of several other reports. Wall Street Zen downgraded GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada lowered their price objective on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. Five investment 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 company has an average rating of “Reduce” and a consensus price target of $11.75.

GrafTech International Stock Performance

Shares of EAF opened at $7.52 on Tuesday. The stock has a fifty day moving average of $6.96 and a two-hundred day moving average of $12.57. The company has a market capitalization of $195.44 million, a PE ratio of -0.88 and a beta of 1.63. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $20.32.

GrafTech International (NYSE:EAF) last issued its quarterly 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 business had revenue of $116.46 million during the quarter, compared to the consensus estimate of $140.00 million. As a group, equities research analysts forecast that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of GrafTech International

Institutional investors have recently made changes to their positions in the stock. Benefit Street Partners LLC purchased a new stake in shares of GrafTech International during the 4th quarter valued at $11,060,000. Allianz Asset Management GmbH purchased a new stake in shares of GrafTech International during the 3rd quarter valued at $508,000. Olympiad Research LP purchased a new stake in shares of GrafTech International during the 3rd quarter valued at $192,000. Bank of America Corp DE grew its stake in shares of GrafTech International by 70.4% during the 2nd quarter. Bank of America Corp DE now owns 232,779 shares of the company’s stock valued at $226,000 after buying an additional 96,174 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of GrafTech International during the 2nd quarter valued at $197,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.