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

Wall Street Zen upgraded shares of GrafTech International (NYSE:EAF) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Zacks Research upgraded shares of GrafTech International from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings upgraded shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Finally, Royal Bank Of Canada lifted their price target on shares of GrafTech International from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

GrafTech International Price Performance

EAF opened at $11.88 on Friday. The firm has a market capitalization of $319.63 million, a PE ratio of -1.59 and a beta of 1.85. The business’s 50-day moving average is $8.34 and its two-hundred day moving average is $8.48. GrafTech International has a 1 year low of $4.92 and a 1 year high of $19.72.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, October 23rd. The company reported ($1.21) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.17. The firm had revenue of $140.16 million for the quarter, compared to analysts’ expectations of $126.73 million. As a group, sell-side analysts expect that GrafTech International will post -5.87 EPS for the current year.

Institutional Trading of GrafTech International

A number of institutional investors have recently bought and sold shares of EAF. Engineers Gate Manager LP acquired a new position in GrafTech International in the 2nd quarter worth approximately $190,000. Bank of New York Mellon Corp purchased a new position in GrafTech International in the second quarter valued at $251,000. Ramsey Quantitative Systems purchased a new position in shares of GrafTech International in the 2nd quarter valued at about $69,000. Bank of America Corp DE increased its position in shares of GrafTech International by 4.5% in the first quarter. Bank of America Corp DE now owns 94,360 shares of the company’s stock valued at $640,000 after buying an additional 4,067 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in GrafTech International during the first quarter worth $823,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

About GrafTech International

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.