Brokerages Set GrafTech International Ltd. (NYSE:EAF) PT at $10.67

GrafTech International Ltd. (NYSE:EAF) has earned a consensus rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.6667.

A number of equities analysts recently issued reports on EAF shares. BMO Capital Markets raised their price target on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Weiss Ratings raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.00 target price on shares of GrafTech International in a research note on Tuesday, May 5th. Zacks Research lowered GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Wall Street Zen cut GrafTech International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st.

GrafTech International Trading Down 3.3%

Shares of EAF opened at $7.86 on Friday. The firm has a market cap of $205.07 million, a PE ratio of -1.16 and a beta of 1.83. The company’s 50 day simple moving average is $7.29 and its 200-day simple moving average is $8.23. GrafTech International has a 12-month low of $4.92 and a 12-month high of $20.32.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, July 24th. The company reported ($1.47) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.01). The company had revenue of $127.36 million for the quarter, compared to analysts’ expectations of $125.02 million. As a group, equities research analysts forecast that GrafTech International will post -6.45 EPS for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several institutional investors have recently bought and sold shares of EAF. Intesa Sanpaolo Wealth Management acquired a new stake in shares of GrafTech International in the 4th quarter worth $31,000. Jefferies Financial Group Inc. acquired a new position in shares of GrafTech International during the fourth quarter worth about $157,000. 9823 Capital L.P. acquired a new position in shares of GrafTech International during the fourth quarter worth about $177,000. Ramsey Quantitative Systems purchased a new position in GrafTech International during the second quarter worth about $69,000. Finally, Prelude Capital Management LLC purchased a new position in GrafTech International during the third quarter worth about $192,000. 92.83% of the stock is owned by institutional investors and hedge funds.

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.