BMO Capital Markets Cuts GrafTech International (NYSE:EAF) Price Target to $1.50

GrafTech International (NYSE:EAF) had its price objective dropped by equities research analysts at BMO Capital Markets from $2.00 to $1.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 20.48% from the stock’s current price.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. raised GrafTech International from an “underweight” rating to a “neutral” rating in a report on Friday, December 6th. Citigroup upped their price target on GrafTech International from $1.00 to $2.20 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd.

GrafTech International Price Performance

EAF opened at $1.25 on Monday. The company has a quick ratio of 1.98, a current ratio of 3.79 and a debt-to-equity ratio of 57.38. The company’s 50-day moving average price is $1.72 and its 200 day moving average price is $1.44. GrafTech International has a fifty-two week low of $0.52 and a fifty-two week high of $2.53. The firm has a market cap of $320.18 million, a price-to-earnings ratio of -1.06 and a beta of 0.97.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. During the same quarter in the previous year, the firm earned ($0.27) EPS. As a group, sell-side analysts expect that GrafTech International will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On GrafTech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sonora Investment Management Group LLC increased its holdings in GrafTech International by 31.8% during the 4th quarter. Sonora Investment Management Group LLC now owns 29,025 shares of the company’s stock valued at $50,000 after purchasing an additional 7,000 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of GrafTech International by 55.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,115 shares of the company’s stock worth $67,000 after purchasing an additional 18,130 shares during the last quarter. Tyler Stone Wealth Management increased its position in GrafTech International by 113.3% during the third quarter. Tyler Stone Wealth Management now owns 61,100 shares of the company’s stock worth $81,000 after buying an additional 32,450 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of GrafTech International during the 3rd quarter worth about $81,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of GrafTech International by 30.0% in the third quarter. The Manufacturers Life Insurance Company now owns 101,449 shares of the company’s stock valued at $134,000 after purchasing an additional 23,413 shares during the last quarter. 92.83% of the stock is owned by institutional investors.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.