GrafTech International Ltd. (NYSE:EAF) Receives $11.75 Consensus Target Price from Brokerages

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

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

GrafTech International Stock Up 7.6%

EAF opened at $5.63 on Wednesday. The stock’s fifty day moving average is $11.59 and its two-hundred day moving average is $13.19. The company has a market capitalization of $145.34 million, a P/E ratio of -0.66 and a beta of 1.69. GrafTech International has a 52 week low of $4.92 and a 52 week high of $20.32.

GrafTech International (NYSE:EAF) last issued its earnings results on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The business had revenue of $116.46 million during the quarter, compared to analyst estimates of $140.00 million. Equities analysts anticipate that GrafTech International will post -0.57 earnings per share for the current year.

Institutional Trading of GrafTech International

A number of hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in shares of GrafTech International by 57.2% in the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock valued at $6,936,000 after acquiring an additional 2,594,562 shares during the period. Ameriprise Financial Inc. raised its position in shares of GrafTech International by 10.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company’s stock worth $5,518,000 after acquiring an additional 546,177 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of 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 during the last quarter. Jane Street Group LLC boosted its position in GrafTech International by 357.6% during the second quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock valued at $1,633,000 after purchasing an additional 1,311,797 shares in the last quarter. Finally, Sender Co & Partners Inc. boosted its position in GrafTech International by 169.2% during the second quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company’s stock valued at $1,251,000 after purchasing an additional 808,615 shares in the last quarter. Hedge funds and other 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.