GrafTech International (NYSE:EAF) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of GrafTech International (NYSE:EAF) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on EAF. Royal Bank Of Canada lowered their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research note on Thursday, January 22nd. Finally, Citigroup lifted their price objective on GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $11.75.

GrafTech International Price Performance

Shares of NYSE EAF opened at $6.66 on Friday. The company has a 50 day simple moving average of $15.32 and a 200 day simple moving average of $13.94. GrafTech International has a 1 year low of $5.50 and a 1 year high of $20.32. The firm has a market cap of $171.99 million, a PE ratio of -0.78 and a beta of 1.63.

GrafTech International (NYSE:EAF) last posted its earnings results 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 analysts’ expectations of $140.00 million. As a group, research analysts anticipate that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its stake in GrafTech International by 42.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company’s stock worth $27,000 after buying an additional 8,188 shares during the period. Intesa Sanpaolo Wealth Management acquired a new position in shares of GrafTech International during the fourth quarter worth approximately $31,000. Jump Financial LLC bought a new position in shares of GrafTech International in the 2nd quarter worth $42,000. CWM LLC lifted its holdings in shares of GrafTech International by 63.7% in the 2nd quarter. CWM LLC now owns 66,335 shares of the company’s stock worth $65,000 after purchasing an additional 25,818 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in GrafTech International in the 2nd quarter valued at $117,000. 92.83% of the stock is owned by institutional investors and hedge funds.

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.