GrafTech International’s (EAF) “Sector Perform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of GrafTech International (NYSE:EAF) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other research firms have also issued reports on EAF. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a report on Tuesday, April 21st. Wall Street Zen lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. restated an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th. Finally, BMO Capital Markets upped their target price on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Monday. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, GrafTech International currently has an average rating of “Reduce” and an average price target of $10.00.

GrafTech International Trading Down 4.7%

Shares of EAF opened at $9.00 on Tuesday. The stock has a market cap of $234.53 million, a P/E ratio of -1.04 and a beta of 1.73. The company has a 50-day moving average of $7.17 and a two-hundred day moving average of $11.79. GrafTech International has a 12-month low of $4.92 and a 12-month high of $20.32.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, May 1st. The company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.80). The business had revenue of $125.10 million for the quarter, compared to the consensus estimate of $120.60 million. As a group, analysts forecast that GrafTech International will post -6.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in GrafTech International by 5,083.2% during the 1st quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock worth $556,000 after purchasing an additional 623,399 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in GrafTech International during the 2nd quarter worth approximately $182,000. Marshall Wace LLP increased its position in GrafTech International by 132.8% during the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after purchasing an additional 1,587,052 shares in the last quarter. Jump Financial LLC acquired a new stake in GrafTech International during the 2nd quarter worth approximately $42,000. Finally, Jane Street Group LLC increased its position in GrafTech International by 357.6% during the 2nd quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock worth $1,633,000 after purchasing an additional 1,311,797 shares in the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

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.