GrafTech International (EAF) Downgraded by Citigroup to “Sell”

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GrafTech International (NYSE:EAF) was downgraded by analysts at Citigroup from a “buy” rating to a “sell” rating in a report released on Monday, The Fly reports.

Separately, Zacks Investment Research lowered GrafTech International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.14.

Shares of EAF opened at $13.93 on Monday. GrafTech International has a one year low of $10.27 and a one year high of $24.36. The firm has a market capitalization of $4.05 billion and a P/E ratio of 4.85.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Winfield Associates Inc. grew its holdings in shares of GrafTech International by 53.0% in the first quarter. Winfield Associates Inc. now owns 25,325 shares of the company’s stock worth $324,000 after acquiring an additional 8,775 shares during the period. Meeder Asset Management Inc. grew its holdings in GrafTech International by 1,111.6% during the first quarter. Meeder Asset Management Inc. now owns 6,603 shares of the company’s stock valued at $85,000 after purchasing an additional 6,058 shares during the period. Reinhart Partners Inc. grew its holdings in GrafTech International by 55.1% during the first quarter. Reinhart Partners Inc. now owns 337,499 shares of the company’s stock valued at $4,317,000 after purchasing an additional 119,859 shares during the period. Wiley BROS. Aintree Capital LLC bought a new stake in GrafTech International during the first quarter valued at about $554,000. Finally, Geode Capital Management LLC grew its holdings in GrafTech International by 24.0% during the fourth quarter. Geode Capital Management LLC now owns 761,247 shares of the company’s stock valued at $8,708,000 after purchasing an additional 147,435 shares during the period.

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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Analyst Recommendations for GrafTech International (NYSE:EAF)

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