GrafTech International Ltd. (NYSE:EAF) Receives $10.67 Average Target Price from Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.6667.

A number of analysts recently commented on the company. Weiss Ratings upgraded GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Zacks Research downgraded GrafTech International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Wall Street Zen lowered GrafTech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st.

Institutional Trading of GrafTech International

A number of large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its position in shares of GrafTech International by 77.6% during the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock valued at $1,121,000 after acquiring an additional 72,223 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of GrafTech International during the 1st quarter worth approximately $823,000. Ramsey Quantitative Systems bought a new stake in shares of GrafTech International in the 2nd quarter worth approximately $69,000. Caption Management LLC bought a new stake in shares of GrafTech International in the 3rd quarter worth approximately $192,000. Finally, Tower Research Capital LLC TRC lifted its stake in GrafTech International by 1,128.2% in the second quarter. Tower Research Capital LLC TRC now owns 167,106 shares of the company’s stock valued at $163,000 after purchasing an additional 153,500 shares during the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Performance

NYSE:EAF opened at $6.17 on Wednesday. GrafTech International has a 52 week low of $4.92 and a 52 week high of $20.32. The firm has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $7.40. The firm has a market cap of $160.98 million, a price-to-earnings ratio of -0.91 and a beta of 1.85.

GrafTech International (NYSE:EAF) last announced 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 firm had revenue of $127.36 million during the quarter, compared to analysts’ expectations of $125.02 million. As a group, sell-side analysts forecast that GrafTech International will post -6.45 earnings per share for the current year.

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.