GrafTech International (NYSE:EAF) Price Target Raised to $8.00

by · The Cerbat Gem

GrafTech International (NYSE:EAF – Free Report) had its price objective hoisted by Royal Bank Of Canada from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings raised GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Wall Street Zen lowered GrafTech International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded GrafTech International from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $10.00.

Read Our Latest Analysis on GrafTech International

GrafTech International Trading Down 3.4%

NYSE EAF opened at $7.11 on Thursday. GrafTech International has a 1-year low of $4.92 and a 1-year high of $19.72. The firm’s fifty day simple moving average is $7.87 and its 200-day simple moving average is $7.86. The company has a market capitalization of $185.58 million, a PE ratio of -1.05 and a beta of 1.85.

GrafTech International (NYSE:EAF – Get Free Report) last released its quarterly earnings data on Friday, July 24th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.01). The company had revenue of $127.36 million during the quarter, compared to analysts’ expectations of $125.02 million. As a group, analysts predict that GrafTech International will post -6.50 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EAF. Walleye Capital LLC raised its holdings in shares of GrafTech International by 77.6% during the 1st quarter. Walleye Capital LLC now owns 165,280 shares of the company’s stock valued at $1,121,000 after purchasing an additional 72,223 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of GrafTech International in the 1st quarter valued at $823,000. Bank of America Corp DE boosted its holdings in GrafTech International by 4.5% in the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock worth $640,000 after purchasing an additional 4,067 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in GrafTech International in the second quarter worth $251,000. Finally, Engineers Gate Manager LP bought a new stake in GrafTech International in the second quarter worth $190,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Company Profile

(Get Free Report)

GrafTech International Ltd. (NYSE:EAF) manufactures graphite electrodes and related carbon-based products used primarily in electric arc furnace steelmaking. Its graphite electrodes conduct electricity at extremely high temperatures, enabling steel producers to melt scrap steel and other metallic inputs. The company also produces petroleum needle coke, a specialty carbon material used in the manufacture of graphite electrodes.

GrafTech serves steel producers and industrial customers worldwide, supplying products through manufacturing and distribution operations in North America, Europe and other international markets.

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