GrafTech International (EAF) Downgraded by Zacks Investment Research to Sell

GrafTech International (NYSE:EAF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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 GrafTech International from a “buy” rating to a “sell” rating and set a $13.93 price objective on the stock. in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. GrafTech International has an average rating of “Hold” and an average price target of $22.59.

NYSE:EAF traded down $0.21 during midday trading on Wednesday, hitting $11.25. The stock had a trading volume of 1,333,790 shares, compared to its average volume of 1,264,087. GrafTech International has a one year low of $10.27 and a one year high of $24.36. The stock has a market cap of $3.30 billion and a P/E ratio of 3.92.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. GrafTech International had a negative return on equity of 83.18% and a net margin of 43.15%. The company had revenue of $474.99 million for the quarter, compared to analysts’ expectations of $472.36 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. GrafTech International’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GrafTech International will post 2.8 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Amalgamated Bank grew its holdings in shares of GrafTech International by 7.0% during the fourth quarter. Amalgamated Bank now owns 11,268 shares of the company’s stock worth $129,000 after purchasing an additional 738 shares during the last quarter. Barings LLC boosted its stake in GrafTech International by 5.7% in the 4th quarter. Barings LLC now owns 16,800 shares of the company’s stock worth $192,000 after purchasing an additional 900 shares during the period. Advisor Group Inc. boosted its stake in GrafTech International by 114.9% in the 1st quarter. Advisor Group Inc. now owns 2,727 shares of the company’s stock worth $34,000 after purchasing an additional 1,458 shares during the period. Quantamental Technologies LLC boosted its stake in GrafTech International by 46.9% in the 1st quarter. Quantamental Technologies LLC now owns 6,610 shares of the company’s stock worth $85,000 after purchasing an additional 2,110 shares during the period. Finally, Enlightenment Research LLC bought a new position in GrafTech International in the 4th quarter worth about $26,000.

GrafTech International Company Profile

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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