GrafTech International (NYSE:EAF) Stock Gets Price Target Boost from Royal Bank Of Canada

GrafTech International (NYSE:EAF) had its target price boosted by research analysts at Royal Bank Of Canada from $7.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 6.04% from the stock’s current price.

A number of other equities research analysts also recently commented on EAF. Wall Street Zen downgraded shares of GrafTech International from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Finally, Zacks Research raised GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GrafTech International currently has an average rating of “Reduce” and a consensus target price of $10.00.

GrafTech International Price Performance

Shares of EAF stock traded down $0.19 during mid-day trading on Thursday, hitting $7.54. The stock had a trading volume of 41,565 shares, compared to its average volume of 379,463. The firm has a market cap of $196.84 million, a PE ratio of -1.11 and a beta of 1.85. The company’s 50-day simple moving average is $7.90 and its 200-day simple moving average is $7.86. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $19.72.

GrafTech International (NYSE:EAF) last issued its quarterly 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 firm had revenue of $127.36 million for the quarter, compared to analyst estimates of $125.02 million. On average, analysts expect that GrafTech International will post -6.50 EPS for the current year.

Institutional Investors Weigh In On GrafTech International

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

About GrafTech International

GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related carbon-based products used primarily in electric arc furnace steelmaking. Its graphite electrodes conduct electricity at extremely high temperatures, enabling steel producers to melt scrap steel and other metallic inputs. The company also produces petroleum needle coke, a specialty carbon material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers worldwide, supplying products through manufacturing and distribution operations in North America, Europe and other international markets.