GrafTech International Ltd. (NYSE:EAF) Receives $10.67 Consensus Target Price from Brokerages

GrafTech International Ltd. (NYSE:EAF) has received an average recommendation of “Reduce” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.6667.

A number of equities analysts have weighed in on EAF shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.00 price target on shares of GrafTech International in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. BMO Capital Markets lifted 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, May 4th. JPMorgan Chase & Co. restated an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of GrafTech International from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th.

Hedge Funds Weigh In On GrafTech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intesa Sanpaolo Wealth Management acquired a new position in shares of GrafTech International during the 4th quarter valued at $31,000. Jefferies Financial Group Inc. acquired a new position in shares of GrafTech International during the 4th quarter valued at $157,000. 9823 Capital L.P. acquired a new position in GrafTech International in the 4th quarter worth $177,000. Prelude Capital Management LLC acquired a new position in GrafTech International in the 3rd quarter worth $192,000. Finally, AEGON USA Investment Management LLC acquired a new position in GrafTech International in the 1st quarter worth $102,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Stock Down 1.2%

Shares of EAF opened at $9.88 on Monday. The firm has a market cap of $257.38 million, a PE ratio of -1.14 and a beta of 1.73. The company’s fifty day moving average is $8.13 and its two-hundred day moving average is $11.22. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $20.32.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, May 1st. The company reported ($2.05) earnings per share 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, equities research analysts anticipate that GrafTech International will post -6.18 earnings per share for the current year.

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.