Zacks Investment Research Lowers GrafTech International (NYSE:EAF) to Sell

Zacks Investment Research downgraded shares of GrafTech International (NYSE:EAF) from a hold rating to a sell rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “GrafTech International Ltd. manufactures and provides natural and synthetic graphite and carbon based products and services. The Company offers graphite electrodes, petroleum needle coke, crystalline form of carbon and energy solutions for manufacture of steel, aluminum, silicon metal, automotive products and electronics. GrafTech International Ltd. is based in Independence, United States. “

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on GrafTech International from $16.00 to $15.00 and set an overweight rating on the stock in a research note on Friday, April 17th. ValuEngine raised GrafTech International from a strong sell rating to a sell rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $12.00.

NYSE:EAF traded down $0.02 during mid-day trading on Thursday, hitting $6.07. 1,458,627 shares of the stock were exchanged, compared to its average volume of 2,030,831. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 2.58 and a beta of 1.01. The firm’s 50-day simple moving average is $7.40 and its 200 day simple moving average is $8.23. GrafTech International has a fifty-two week low of $5.56 and a fifty-two week high of $14.84.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.11). The firm had revenue of $318.65 million for the quarter, compared to analyst estimates of $353.00 million. GrafTech International had a negative return on equity of 99.61% and a net margin of 40.96%. The business’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that GrafTech International will post 1.26 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in EAF. First Quadrant L P CA raised its stake in GrafTech International by 551.8% during the second quarter. First Quadrant L P CA now owns 75,820 shares of the company’s stock worth $605,000 after purchasing an additional 64,188 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in shares of GrafTech International by 11.6% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 1,045,850 shares of the company’s stock worth $8,346,000 after acquiring an additional 108,580 shares during the period. Raymond James & Associates lifted its holdings in shares of GrafTech International by 9.3% during the 2nd quarter. Raymond James & Associates now owns 1,652,402 shares of the company’s stock worth $13,186,000 after acquiring an additional 141,228 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in shares of GrafTech International by 456.9% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 577,012 shares of the company’s stock worth $4,605,000 after acquiring an additional 473,401 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of GrafTech International by 11.6% during the 2nd quarter. First Trust Advisors LP now owns 352,342 shares of the company’s stock worth $2,812,000 after acquiring an additional 36,482 shares during the period. Hedge funds and other institutional investors own 98.77% of the company’s stock.

About GrafTech International

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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