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

Shares of GrafTech International Ltd. (NYSE:EAF) have earned a consensus recommendation of “Reduce” from the six ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $10.6667.

EAF has been the topic of a number of research reports. Zacks Research lowered GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of GrafTech International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st.

GrafTech International Stock Up 1.6%

Shares of NYSE:EAF opened at $6.30 on Wednesday. GrafTech International has a 12-month low of $4.92 and a 12-month high of $20.32. The business has a 50 day moving average of $6.85 and a 200-day moving average of $7.41. The stock has a market cap of $164.42 million, a PE ratio of -0.93 and a beta of 1.85.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, July 24th. The company reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The firm had revenue of $127.36 million during the quarter, compared to the consensus estimate of $125.02 million. Equities research analysts expect that GrafTech International will post -6.45 earnings per share for the current year.

Institutional Trading of GrafTech International

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of GrafTech International by 5,083.2% in the first quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock valued at $556,000 after buying an additional 623,399 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in GrafTech International during the second quarter worth approximately $182,000. Marshall Wace LLP grew its position in GrafTech International by 132.8% during the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after buying an additional 1,587,052 shares in the last quarter. Jump Financial LLC bought a new position in GrafTech International during the 2nd quarter worth $42,000. Finally, Jane Street Group LLC increased its stake 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 acquiring an additional 1,311,797 shares during the period. Institutional investors own 92.83% of the company’s stock.

GrafTech International Company Profile

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.