GrafTech International Ltd. (NYSE:EAF) Stock Rated “Reduce” by Wall Street Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have earned an average rating of “Reduce” from the six research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

EAF has been the topic of several analyst reports. Zacks Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Royal Bank Of Canada upped their price objective on shares of GrafTech International from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 15th. 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, Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th.

GrafTech International Trading Up 24.9%

Shares of NYSE:EAF opened at $10.63 on Thursday. GrafTech International has a 12-month low of $4.92 and a 12-month high of $19.72. The company has a market capitalization of $277.36 million, a PE ratio of -1.43 and a beta of 1.85. The business has a 50 day moving average of $7.88 and a two-hundred day moving average of $8.62.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, October 23rd. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.17. The company had revenue of $140.16 million during the quarter, compared to analysts’ expectations of $126.73 million. Equities research analysts predict that GrafTech International will post -6.50 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

A number of hedge funds have recently bought and sold shares of EAF. Renaissance Technologies LLC purchased a new position in shares of GrafTech International during the 1st quarter valued at approximately $823,000. Walleye Capital LLC grew its stake in GrafTech International by 77.6% in the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock valued at $1,121,000 after acquiring an additional 72,223 shares during the period. Bank of New York Mellon Corp acquired a new stake in GrafTech International in the 2nd quarter valued at $251,000. Engineers Gate Manager LP purchased a new stake in GrafTech International in the 2nd quarter worth $190,000. Finally, AEGON USA Investment Management LLC purchased a new stake in GrafTech International in the 1st quarter worth $102,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

GrafTech International Company Profile

GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.

The company’s product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.