Jefferies Group upgraded shares of GrafTech International (NYSE:GTI) from a hold rating to a buy rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have $12.00 target price on the stock, up from their previous target price of $7.00.
“In recent weeks, electrode industry leaders (GTI/SGL) have announced significant capacity reductions (9% of global) with further actions likely. Combined with recovery of Western world demand in the coming years, our view on pricing prospects for graphite electrodes has improved, which along with significant cost reductions should drive material earnings improvement & valuation upside for GTI.,” the firm’s analyst commented.
Separately, analysts at JPMorgan Chase & Co. downgraded shares of GrafTech International from a neutral rating to an underweight rating in a research note to investors on Wednesday, October 16th. They now have a $6.00 price target on the stock, down previously from $6.50. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.30.
GrafTech International (NYSE:GTI) traded down 1.78% during mid-day trading on Monday, hitting $11.06. The stock had a trading volume of 1,707,777 shares. GrafTech International has a 52 week low of $6.41 and a 52 week high of $11.43. The stock’s 50-day moving average is $8.64 and its 200-day moving average is $7.95. The company has a market cap of $1.496 billion and a price-to-earnings ratio of 51.18.
GrafTech International (NYSE:GTI) last announced its earnings results on Thursday, October 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $303.00 million for the quarter, compared to the consensus estimate of $305.80 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts predict that GrafTech International will post $0.12 earnings per share for the current fiscal year.
GrafTech International Ltd (NYSE:GTI) is a manufacturer of graphite electrodes, products essential to the production of electric arc furnace (EAF) steel and various other ferrous and nonferrous metals.
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