Royal Bank Of Canada Cuts GrafTech International (NYSE:EAF) Price Target to $10.00

GrafTech International (NYSE:EAF) had its price objective cut by Royal Bank Of Canada from $21.00 to $10.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

EAF has been the topic of several other reports. Citigroup increased their target price on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of GrafTech International from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.75.

GrafTech International Price Performance

Shares of NYSE:EAF opened at $6.97 on Tuesday. The company has a market capitalization of $179.89 million, a PE ratio of -0.82 and a beta of 1.63. The business has a fifty day moving average price of $15.72 and a 200-day moving average price of $14.07. GrafTech International has a 1-year low of $5.50 and a 1-year high of $20.32.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($1.18). The business had revenue of $116.46 million for the quarter, compared to analyst estimates of $140.00 million. On average, sell-side analysts anticipate that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of GrafTech International

Several large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its position in GrafTech International by 42.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company’s stock worth $27,000 after acquiring an additional 8,188 shares during the period. Intesa Sanpaolo Wealth Management bought a new position in GrafTech International in the 4th quarter worth $31,000. Jump Financial LLC bought a new stake in GrafTech International during the second quarter valued at about $42,000. CWM LLC increased its position in GrafTech International by 63.7% in the second quarter. CWM LLC now owns 66,335 shares of the company’s stock worth $65,000 after buying an additional 25,818 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of GrafTech International in the second quarter worth about $117,000. 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.