GrafTech International Ltd. (NYSE:EAF) Receives Consensus Rating of “Reduce” from Brokerages

GrafTech International Ltd. (NYSE:EAF) has been assigned a consensus recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.6667.

A number of research analysts have recently weighed in on EAF shares. Weiss Ratings raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. JPMorgan Chase & Co. restated an “underweight” rating on shares of GrafTech International in a research note on Tuesday, April 14th. BMO Capital Markets lifted their price target on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Wall Street Zen raised shares of GrafTech International from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.00 price target on shares of GrafTech International in a research report on Tuesday, May 5th.

GrafTech International Trading Down 6.2%

Shares of NYSE EAF opened at $6.93 on Tuesday. GrafTech International has a 12-month low of $4.92 and a 12-month high of $20.32. The firm has a market capitalization of $180.63 million, a price-to-earnings ratio of -0.80 and a beta of 1.84. The firm has a 50 day moving average of $7.92 and a 200 day moving average of $9.37.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The firm had revenue of $125.10 million for the quarter, compared to analysts’ expectations of $120.60 million. Sell-side analysts predict that GrafTech International will post -6.2 EPS for the current year.

Institutional Inflows and Outflows

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

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.