GrafTech International Ltd. (NYSE:EAF) Stock Has Consensus Price Target of $10.67 According to Brokerages

GrafTech International Ltd. (NYSE:EAF) has received an average rating of “Reduce” from the six research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.67.

A number of research analysts have recently weighed in on EAF shares. Wall Street Zen cut GrafTech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Zacks Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th.

GrafTech International Stock Up 9.4%

Shares of NYSE EAF opened at $9.04 on Friday. The stock has a market capitalization of $235.96 million, a price-to-earnings ratio of -1.33 and a beta of 1.84. 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 $7.65 and a 200 day moving average price of $7.69.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EAF. Walleye Capital LLC increased its position in GrafTech International by 77.6% during the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock worth $1,121,000 after purchasing an additional 72,223 shares in the last quarter. Renaissance Technologies LLC acquired a new position in GrafTech International in the 1st quarter valued at about $823,000. Engineers Gate Manager LP purchased a new position in GrafTech International in the 2nd quarter valued at about $190,000. Bank of New York Mellon Corp purchased a new position in GrafTech International in the 2nd quarter valued at about $251,000. Finally, Bank of America Corp DE boosted its stake in shares of GrafTech International by 4.5% during the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after purchasing an additional 4,067 shares during the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

About GrafTech International

GrafTech International Inc is a manufacturer of graphite electrodes and related carbon-based products used primarily in electric arc furnaces (EAFs) for steel production. Its electrodes conduct electricity at extremely high temperatures, enabling the melting of steel scrap and other metallic materials. The company also produces petroleum needle coke, a specialized raw material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers in North America, Europe, Asia, and other international markets.