GrafTech International (NYSE:EAF) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of GrafTech International (NYSE:EAF) from a sell rating to a strong sell rating in a research note released on Saturday morning.

A number of other brokerages have also weighed in on EAF. Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a report on Tuesday, May 5th. Zacks Research lowered shares of GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets upped their price target on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.67.

GrafTech International Trading Up 2.8%

Shares of GrafTech International stock opened at $6.67 on Friday. The firm has a market capitalization of $173.99 million, a PE ratio of -0.98 and a beta of 1.84. GrafTech International has a 12 month low of $4.92 and a 12 month high of $20.32. The business’s 50-day moving average price is $7.52 and its 200-day moving average price is $8.71.

GrafTech International (NYSE:EAF) last released its earnings results on Friday, July 24th. The company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The company had revenue of $127.36 million during the quarter, compared to the consensus estimate of $125.02 million. As a group, analysts predict that GrafTech International will post -6.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Institutional investors and hedge funds have recently modified their holdings of the stock. Ramsey Quantitative Systems purchased a new stake in GrafTech International in the second quarter worth $69,000. Bank of America Corp DE grew its holdings in shares of GrafTech International by 4.5% during the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after buying an additional 4,067 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in GrafTech International during the 1st quarter valued at $823,000. Walleye Capital LLC increased its holdings in GrafTech International by 77.6% in the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after buying an additional 72,223 shares in the last quarter. Finally, AEGON USA Investment Management LLC purchased a new position in shares of GrafTech International during the first quarter valued at approximately $102,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.