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

GrafTech International Ltd. (NYSE:EAF) has received an average recommendation of “Reduce” from the six brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.6667.

EAF has been the topic of several analyst reports. BMO Capital Markets increased their price target on GrafTech International from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of GrafTech International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Zacks Research downgraded shares of GrafTech International from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th.

GrafTech International Price Performance

NYSE EAF opened at $7.54 on Friday. GrafTech International has a fifty-two week low of $4.92 and a fifty-two week high of $20.32. The stock’s 50-day moving average is $7.12 and its two-hundred day moving average is $8.02. The firm has a market cap of $196.68 million, a P/E ratio of -1.11 and a beta of 1.83.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Friday, July 24th. The company reported ($1.47) earnings per share 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 the consensus estimate of $125.02 million. On average, equities analysts expect that GrafTech International will post -6.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Intesa Sanpaolo Wealth Management bought a new position in shares of GrafTech International during the 4th quarter worth about $31,000. Bridgeway Capital Management LLC raised its stake in shares of 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 buying an additional 2,800 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of GrafTech International by 4.5% during the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after acquiring an additional 4,067 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of GrafTech International by 27.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,688 shares of the company’s stock worth $368,000 after acquiring an additional 5,050 shares during the period. Finally, Krilogy Financial LLC boosted its position in shares of GrafTech International by 42.9% during 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.