GrafTech International Ltd. (NYSE:EAF) Receives Average Recommendation of “Reduce” from Analysts

Shares of GrafTech International Ltd. (NYSE:EAF) have been given an average rating of “Reduce” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.25.

EAF has been the topic of a number of recent analyst reports. Zacks Research cut shares of GrafTech International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. BMO Capital Markets increased their price objective on shares of GrafTech International from $10.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a research note on Wednesday.

GrafTech International Stock Performance

Shares of GrafTech International stock opened at $18.24 on Friday. The stock has a market cap of $471.06 million, a P/E ratio of -2.22 and a beta of 1.71. The stock’s fifty day moving average is $11.93 and its 200 day moving average is $10.45. GrafTech International has a one year low of $5.50 and a one year high of $25.30.

GrafTech International (NYSE:EAF) last issued its quarterly earnings results on Friday, July 25th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.40). The business had revenue of $131.84 million during the quarter, compared to analyst estimates of $130.44 million. Analysts predict that GrafTech International will post -0.57 EPS for the current year.

Hedge Funds Weigh In On GrafTech International

Several hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of GrafTech International in the 1st quarter worth approximately $63,000. PFG Investments LLC acquired a new position in GrafTech International during the first quarter valued at $87,000. Yacktman Asset Management LP grew its holdings in GrafTech International by 0.6% during the first quarter. Yacktman Asset Management LP now owns 10,698,696 shares of the company’s stock worth $9,355,000 after acquiring an additional 59,216 shares during the period. Cerity Partners LLC acquired a new position in shares of GrafTech International in the first quarter worth about $49,000. Finally, CWM LLC boosted its position in GrafTech International by 2,978.8% during the first quarter. CWM LLC now owns 40,517 shares of the company’s stock worth $35,000 after purchasing an additional 39,201 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.