Royal Bank Of Canada Reaffirms Sector Perform Rating for GrafTech International (NYSE:EAF)

GrafTech International (NYSE:EAF)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 5.60% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a report on Tuesday, April 21st. Wall Street Zen cut GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. Finally, BMO Capital Markets increased their price objective on GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Monday. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $10.00.

GrafTech International Stock Up 2.6%

Shares of NYSE:EAF traded up $0.24 on Tuesday, hitting $9.47. 58,760 shares of the company traded hands, compared to its average volume of 344,100. GrafTech International has a 52 week low of $4.92 and a 52 week high of $20.32. The stock has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $11.97. The company has a market cap of $246.11 million, a PE ratio of -1.09 and a beta of 1.73.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, May 1st. The company reported ($2.05) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.80). The firm had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $120.60 million. As a group, sell-side analysts anticipate that GrafTech International will post -4.95 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Intesa Sanpaolo Wealth Management acquired a new position in shares of GrafTech International in the fourth quarter valued at about $31,000. Jump Financial LLC acquired a new position in shares of GrafTech International in the second quarter valued at about $42,000. AEGON USA Investment Management LLC acquired a new position in shares of GrafTech International in the first quarter valued at about $102,000. Krilogy Financial LLC increased its holdings in shares of GrafTech International by 42.9% in the first quarter. Krilogy Financial LLC now owns 20,000 shares of the company’s stock valued at $136,000 after purchasing an additional 6,000 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of GrafTech International in the fourth quarter valued at about $157,000. 92.83% of the stock is owned by institutional investors and hedge funds.

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.