GrafTech International (NYSE:EAF) Price Target Cut to $7.00

GrafTech International (NYSE:EAFGet Rating) had its target price lowered by BMO Capital Markets from $9.00 to $7.00 in a report released on Monday, The Fly reports. The brokerage currently has a market perform rating on the stock.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada downgraded GrafTech International from an outperform rating to a sector perform rating and cut their target price for the stock from $10.00 to $7.00 in a research note on Wednesday, July 13th. Credit Suisse Group reduced their target price on shares of GrafTech International from $16.00 to $13.00 and set an outperform rating on the stock in a research note on Tuesday, August 9th. Finally, Citigroup decreased their target price on shares of GrafTech International from $10.00 to $7.50 in a report on Tuesday, August 9th.

GrafTech International Price Performance

GrafTech International stock opened at $4.65 on Monday. The company has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $7.99. The company has a quick ratio of 1.29, a current ratio of 2.73 and a debt-to-equity ratio of 4.77. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 2.45 and a beta of 1.11. GrafTech International has a 52-week low of $4.52 and a 52-week high of $13.38.

GrafTech International (NYSE:EAFGet Rating) last released its quarterly earnings data on Friday, August 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $363.60 million during the quarter, compared to the consensus estimate of $370.67 million. GrafTech International had a net margin of 34.75% and a return on equity of 807.51%. GrafTech International’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, equities analysts anticipate that GrafTech International will post 1.68 EPS for the current fiscal year.

GrafTech International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.86%. GrafTech International’s payout ratio is currently 2.11%.

Institutional Investors Weigh In On GrafTech International

Institutional investors have recently made changes to their positions in the stock. Islay Capital Management LLC boosted its position in shares of GrafTech International by 16.8% during the 2nd quarter. Islay Capital Management LLC now owns 12,242 shares of the company’s stock worth $87,000 after purchasing an additional 1,764 shares during the period. Principal Financial Group Inc. lifted its stake in GrafTech International by 5.8% during the first quarter. Principal Financial Group Inc. now owns 34,094 shares of the company’s stock worth $328,000 after purchasing an additional 1,880 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of GrafTech International by 18.9% during the second quarter. Kestra Private Wealth Services LLC now owns 12,264 shares of the company’s stock worth $87,000 after buying an additional 1,950 shares during the period. Rhumbline Advisers grew its stake in shares of GrafTech International by 1.2% in the fourth quarter. Rhumbline Advisers now owns 203,560 shares of the company’s stock valued at $2,408,000 after buying an additional 2,460 shares in the last quarter. Finally, Tyler Stone Wealth Management raised its holdings in shares of GrafTech International by 56.4% in the 2nd quarter. Tyler Stone Wealth Management now owns 6,900 shares of the company’s stock valued at $49,000 after buying an additional 2,488 shares during the period. 87.04% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Company Profile

(Get Rating)

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. It offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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