GrafTech International Ltd. (NYSE:EAF) Stock Has Consensus Price Target of $10.67

Shares of GrafTech International Ltd. (NYSE:EAF) have received a consensus rating of “Reduce” from the six brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.67.

A number of research analysts recently issued reports on EAF shares. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Zacks Research raised shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Wall Street Zen cut shares of GrafTech International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st.

GrafTech International Stock Down 14.0%

Shares of GrafTech International stock opened at $8.57 on Friday. GrafTech International has a 12-month low of $4.92 and a 12-month high of $20.32. The stock has a 50 day moving average price of $7.59 and a two-hundred day moving average price of $7.64. The stock has a market capitalization of $223.61 million, a P/E ratio of -1.26 and a beta of 1.85.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, July 24th. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The firm had revenue of $127.36 million for the quarter, compared to the consensus estimate of $125.02 million. Sell-side analysts anticipate that GrafTech International will post -6.45 earnings per share for the current year.

Hedge Funds Weigh In On GrafTech International

Large investors have recently made changes to their positions in the business. Walleye Capital LLC grew its holdings in GrafTech International by 77.6% in the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock valued at $1,121,000 after buying an additional 72,223 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of GrafTech International during the first quarter worth approximately $823,000. Bank of America Corp DE lifted its holdings in shares of GrafTech International by 4.5% during the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after buying an additional 4,067 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of GrafTech International in the second quarter valued at approximately $251,000. Finally, Engineers Gate Manager LP bought a new stake in shares of GrafTech International in the second quarter valued at approximately $190,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Company Profile

GrafTech International Inc is a manufacturer of graphite electrodes and related carbon-based products used primarily in electric arc furnaces (EAFs) for steel production. Its electrodes conduct electricity at extremely high temperatures, enabling the melting of steel scrap and other metallic materials. The company also produces petroleum needle coke, a specialized raw material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers in North America, Europe, Asia, and other international markets.