GrafTech International (NYSE:EAF) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of GrafTech International (NYSE:EAF) from a strong sell rating to a sell rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a research report on Tuesday, May 5th. Weiss Ratings cut shares of GrafTech International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets boosted their price objective on shares of GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GrafTech International currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

GrafTech International Trading Up 3.7%

Shares of NYSE:EAF opened at $9.29 on Friday. The company has a market capitalization of $241.87 million, a price-to-earnings ratio of -1.07 and a beta of 1.73. GrafTech International has a 12 month low of $4.92 and a 12 month high of $20.32. The firm’s 50-day moving average is $7.17 and its 200 day moving average is $11.79.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, May 1st. The company reported ($2.05) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.80). The company had revenue of $125.10 million for the quarter, compared to the consensus estimate of $120.60 million. As a group, equities analysts forecast that GrafTech International will post -6.18 EPS for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Large investors have recently added to or reduced their stakes in the stock. Benefit Street Partners LLC purchased a new stake in GrafTech International in the 4th quarter valued at about $11,060,000. Allianz Asset Management GmbH purchased a new stake in shares of GrafTech International in the 3rd quarter worth approximately $508,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of GrafTech International in the 4th quarter worth approximately $281,000. Bank of America Corp DE lifted its position in shares of GrafTech International by 70.4% in the 2nd quarter. Bank of America Corp DE now owns 232,779 shares of the company’s stock worth $226,000 after purchasing an additional 96,174 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of GrafTech International in the 2nd quarter worth approximately $197,000. 92.83% of the stock is owned by hedge funds and other institutional investors.

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.