Brokerages Set GrafTech International Ltd. (NYSE:EAF) Target Price at $11.75

Shares of GrafTech International Ltd. (NYSE:EAF) have earned an average recommendation of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.

EAF has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. BMO Capital Markets increased their price target on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Tuesday, April 21st. Royal Bank Of Canada reissued a “sector perform” rating and set a $10.00 price target on shares of GrafTech International in a research report on Tuesday. Finally, Wall Street Zen downgraded GrafTech International from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th.

Hedge Funds Weigh In On GrafTech International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AEGON USA Investment Management LLC bought a new position in shares of GrafTech International during the 1st quarter worth $102,000. Krilogy Financial LLC grew its position in shares of GrafTech International by 42.9% during the 1st quarter. Krilogy Financial LLC now owns 20,000 shares of the company’s stock worth $136,000 after buying an additional 6,000 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of GrafTech International during the 4th quarter worth $484,000. Bridgeway Capital Management LLC grew its position in shares of GrafTech International by 9.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 32,200 shares of the company’s stock worth $499,000 after buying an additional 2,800 shares in the last quarter. Finally, 9823 Capital L.P. bought a new position in shares of GrafTech International during the 4th quarter worth $177,000. Institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Up 3.6%

Shares of GrafTech International stock opened at $9.31 on Thursday. The stock’s fifty day moving average is $7.12 and its two-hundred day moving average is $11.85. The company has a market capitalization of $242.63 million, a PE ratio of -1.08 and a beta of 1.73. GrafTech International has a 52 week low of $4.92 and a 52 week high of $20.32.

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

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.