GrafTech International (NYSE:EAF) Price Target Lowered to $10.00 at Royal Bank Of Canada

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

A number of other research firms have also recently weighed in on EAF. Citigroup lifted their target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised GrafTech International from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GrafTech International has an average rating of “Reduce” and an average price target of $11.75.

GrafTech International Stock Performance

Shares of EAF stock traded down $1.12 during mid-day trading on Tuesday, hitting $7.80. The company’s stock had a trading volume of 622,055 shares, compared to its average volume of 388,764. The stock has a market cap of $201.40 million, a price-to-earnings ratio of -0.91 and a beta of 1.63. The business has a 50-day moving average price of $16.26 and a 200 day moving average price of $14.22. GrafTech International has a 52-week low of $5.50 and a 52-week high of $20.32.

GrafTech International (NYSE:EAF) last announced its earnings results on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) 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 analyst estimates of $140.00 million. Equities research analysts predict that GrafTech International will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EAF. Franklin Resources Inc. increased its position in shares of 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 buying an additional 2,594,562 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of GrafTech International by 132.8% during the second quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after purchasing an additional 1,587,052 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its position in GrafTech International by 92.3% during the second quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company’s stock worth $3,065,000 after buying an additional 1,512,436 shares during the period. Jane Street Group LLC grew its holdings in GrafTech International by 357.6% in the 2nd quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock valued at $1,633,000 after buying an additional 1,311,797 shares during the period. Finally, Sender Co & Partners Inc. lifted its holdings in shares of GrafTech International by 169.2% during the 2nd quarter. Sender Co & Partners Inc. now owns 1,286,455 shares of the company’s stock worth $1,251,000 after acquiring an additional 808,615 shares during the period. Institutional investors and hedge funds own 92.83% of the company’s stock.

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.