GrafTech International Ltd. (NYSE:EAF) Receives $14.25 Average PT from Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have been assigned an average rating of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.25.

Several equities research analysts have issued reports on EAF shares. Citigroup lifted their price target on shares of GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Wall Street Zen raised GrafTech International from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Wednesday, October 8th.

GrafTech International Stock Performance

NYSE EAF opened at $16.23 on Friday. GrafTech International has a 52 week low of $5.50 and a 52 week high of $20.32. The stock’s 50 day moving average price is $14.78 and its two-hundred day moving average price is $13.13. The stock has a market capitalization of $419.06 million, a price-to-earnings ratio of -2.05 and a beta of 1.72.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Friday, October 24th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.19. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $139.58 million. On average, equities research analysts forecast that GrafTech International will post -0.57 EPS for the current year.

Hedge Funds Weigh In On GrafTech International

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in GrafTech International by 57.2% in the second 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 last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of GrafTech International during the 2nd quarter worth about $117,000. Allianz Asset Management GmbH bought a new stake in shares of GrafTech International in the 3rd quarter valued at about $508,000. Prescott Group Capital Management L.L.C. raised its holdings in shares of GrafTech International by 92.3% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company’s stock valued at $3,065,000 after purchasing an additional 1,512,436 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in GrafTech International in the 2nd quarter valued at about $366,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

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.