Wall Street Zen Upgrades GrafTech International (NYSE:EAF) to “Sell”

GrafTech International (NYSE:EAF) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on EAF. Royal Bank Of Canada lifted their price objective on GrafTech International from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. 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. Finally, Zacks Research upgraded GrafTech International from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $10.00.

GrafTech International Stock Performance

Shares of EAF stock opened at $11.88 on Friday. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $19.72. The business’s 50 day moving average price is $8.34 and its 200-day moving average price is $8.48. The firm has a market cap of $319.63 million, a P/E ratio of -1.59 and a beta of 1.79.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, October 23rd. The company reported ($1.21) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.17. The firm had revenue of $140.16 million for the quarter, compared to analyst estimates of $126.73 million. As a group, equities analysts predict that GrafTech International will post -5.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems purchased a new position in GrafTech International during the second quarter worth about $69,000. Engineers Gate Manager LP acquired a new stake in GrafTech International in the 2nd quarter valued at $190,000. Bank of New York Mellon Corp acquired a new position in GrafTech International during the 2nd quarter worth about $251,000. Bank of America Corp DE increased its stake in 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. Finally, Renaissance Technologies LLC purchased a new position in GrafTech International in the 1st quarter valued at about $823,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Company Profile

GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.

The company’s product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.