Brokerages Set GrafTech International Ltd. (NYSE:EAF) Price Target at $11.75

Shares of GrafTech International Ltd. (NYSE:EAF) have earned a consensus rating of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.75.

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Wall Street Zen cut GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Royal Bank Of Canada lowered their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. Finally, Citigroup increased their target price on shares of GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th.

GrafTech International Trading Down 3.9%

NYSE EAF opened at $6.18 on Friday. The firm has a market capitalization of $159.54 million, a price-to-earnings ratio of -0.73 and a beta of 1.63. The firm’s 50 day simple moving average is $14.42 and its 200 day simple moving average is $13.75. GrafTech International has a 1 year low of $5.50 and a 1 year high of $20.32.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Friday, February 6th. The company reported ($2.45) EPS for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The business had revenue of $116.46 million for the quarter, compared to analyst estimates of $140.00 million. On average, equities research analysts forecast that GrafTech International will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On GrafTech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intesa Sanpaolo Wealth Management bought a new position in shares of GrafTech International during the fourth quarter valued at $31,000. Jefferies Financial Group Inc. acquired a new stake in GrafTech International in the fourth quarter valued at $157,000. 9823 Capital L.P. bought a new position in GrafTech International during the 4th quarter worth $177,000. Olympiad Research LP acquired a new position in GrafTech International during the 3rd quarter worth about $192,000. Finally, Prelude Capital Management LLC acquired a new position in GrafTech International during the 3rd quarter worth about $192,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

About GrafTech International

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.