GrafTech International (EAF) Upgraded to “Hold” at Zacks Investment Research

GrafTech International (NYSE:EAF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, 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. “

Separately, Citigroup cut their price objective on GrafTech International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. GrafTech International has an average rating of “Buy” and an average target price of $24.14.

Shares of EAF stock traded up $0.20 during trading hours on Monday, reaching $13.98. The company’s stock had a trading volume of 1,075,700 shares, compared to its average volume of 1,248,688. The firm has a market cap of $4.00 billion and a P/E ratio of 4.87. GrafTech International has a one year low of $10.27 and a one year high of $24.36.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, February 8th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. The firm had revenue of $532.80 million for the quarter, compared to analyst estimates of $487.67 million. GrafTech International had a negative return on equity of 100.98% and a net margin of 45.06%. GrafTech International’s quarterly revenue was up 176.8% on a year-over-year basis. On average, research analysts forecast that GrafTech International will post 2.87 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of GrafTech International by 61.0% during the third quarter. Macquarie Group Ltd. now owns 258,856 shares of the company’s stock valued at $5,050,000 after purchasing an additional 98,088 shares in the last quarter. Reinhart Partners Inc. boosted its position in shares of GrafTech International by 37.3% during the fourth quarter. Reinhart Partners Inc. now owns 217,640 shares of the company’s stock valued at $2,490,000 after purchasing an additional 59,150 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of GrafTech International during the third quarter valued at approximately $277,000. First Manhattan Co. boosted its position in shares of GrafTech International by 71.2% during the fourth quarter. First Manhattan Co. now owns 652,300 shares of the company’s stock valued at $7,462,000 after purchasing an additional 271,350 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of GrafTech International during the third quarter valued at approximately $205,000.

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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