GrafTech International (NYSE:EAF) Cut to Strong Sell at Wall Street Zen

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

EAF has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.00 price target on shares of GrafTech International in a research note on Tuesday, May 5th. Zacks Research cut GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. BMO Capital Markets boosted their price objective on GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. restated an “underweight” rating on shares of GrafTech International in a research report on Tuesday, April 14th. Finally, Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.67.

GrafTech International Price Performance

Shares of GrafTech International stock opened at $7.53 on Friday. The firm has a 50 day simple moving average of $7.48 and a 200 day simple moving average of $8.57. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $20.32. The firm has a market cap of $196.35 million, a P/E ratio of -1.11 and a beta of 1.83.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Friday, July 24th. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The business had revenue of $127.36 million during the quarter, compared to analysts’ expectations of $125.02 million. On average, sell-side analysts expect that GrafTech International will post -6.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EAF. Intesa Sanpaolo Wealth Management bought a new stake in GrafTech International in the fourth quarter valued at about $31,000. Jefferies Financial Group Inc. acquired a new position in GrafTech International in the fourth quarter valued at about $157,000. 9823 Capital L.P. bought a new position in GrafTech International during the fourth quarter worth about $177,000. Ramsey Quantitative Systems bought a new position in GrafTech International during the second quarter worth about $69,000. Finally, Prelude Capital Management LLC acquired a new position in shares of GrafTech International during the 3rd quarter worth about $192,000. 92.83% of the stock is currently owned by 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.