Royal Bank Of Canada Has Lowered Expectations for GrafTech International (NYSE:EAF) Stock Price

GrafTech International (NYSE:EAF) had its price target lowered by equities research analysts at Royal Bank Of Canada from $21.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 28.21% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Citigroup lifted their price target on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of 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 report on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $11.75.

GrafTech International Stock Performance

Shares of GrafTech International stock traded down $1.12 during trading on Tuesday, reaching $7.80. The company had a trading volume of 622,055 shares, compared to its average volume of 388,764. The company has a market cap of $201.40 million, a price-to-earnings ratio of -0.91 and a beta of 1.63. GrafTech International has a fifty-two week low of $5.50 and a fifty-two week high of $20.32. The firm’s fifty day moving average is $16.26 and its 200-day moving average is $14.22.

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 analysts’ expectations of $140.00 million. On average, research analysts anticipate that GrafTech International will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several institutional investors and hedge funds have recently made changes to their positions in EAF. Vanguard Personalized Indexing Management LLC increased its holdings in shares of GrafTech International by 42.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company’s stock worth $27,000 after buying an additional 8,188 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $42,000. CWM LLC increased its stake in GrafTech International by 63.7% in the second quarter. CWM LLC now owns 66,335 shares of the company’s stock valued at $65,000 after purchasing an additional 25,818 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in GrafTech International in the second quarter valued at approximately $117,000. Finally, Jefferies Financial Group Inc. acquired a new position in GrafTech International during the fourth quarter worth $157,000. Institutional investors and hedge funds 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.