Analysts Set GrafTech International Ltd. (NYSE:EAF) Target Price at $10.67

GrafTech International Ltd. (NYSE:EAF) has received an average rating of “Reduce” from the six research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.6667.

Several research firms recently weighed in on EAF. BMO Capital Markets upped their price target on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Royal Bank Of Canada reaffirmed 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 raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. Finally, Wall Street Zen raised GrafTech International from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th.

GrafTech International Stock Down 1.0%

GrafTech International stock opened at $9.88 on Monday. The company has a market capitalization of $257.40 million, a P/E ratio of -1.14 and a beta of 1.77. The stock’s 50 day moving average is $8.13 and its 200 day moving average is $11.21. GrafTech International has a twelve month low of $4.92 and a twelve month high of $20.32.

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

Hedge Funds Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intesa Sanpaolo Wealth Management bought a new position in GrafTech International in the 4th quarter valued at approximately $31,000. Bridgeway Capital Management LLC lifted its position in GrafTech International by 9.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 32,200 shares of the company’s stock valued at $499,000 after acquiring an additional 2,800 shares in the last quarter. Bank of America Corp DE lifted its position in GrafTech International by 4.5% in the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after acquiring an additional 4,067 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in GrafTech International by 27.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,688 shares of the company’s stock valued at $368,000 after acquiring an additional 5,050 shares in the last quarter. Finally, Krilogy Financial LLC lifted its position in GrafTech International by 42.9% in the 1st quarter. Krilogy Financial LLC now owns 20,000 shares of the company’s stock valued at $136,000 after acquiring an additional 6,000 shares in the last quarter. 92.83% of the stock is owned by institutional investors.

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.