GrafTech International (NYSE:EAF) Stock Price Up 11% on Better-Than-Expected Earnings

GrafTech International Ltd. (NYSE:EAF) rose 11% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $2.42 and last traded at $2.42. Approximately 279,273 shares changed hands during trading, a decline of 91% from the average daily volume of 3,088,052 shares. The stock had previously closed at $2.18.

The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $130.65 million during the quarter, compared to the consensus estimate of $128.14 million. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 321.50%. During the same period in the prior year, the business posted ($0.08) EPS.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets cut their price target on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. cut GrafTech International from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, GrafTech International presently has an average rating of “Hold” and an average target price of $1.75.

Institutional Trading of GrafTech International

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in shares of GrafTech International by 58.4% during the first quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock valued at $35,000 after buying an additional 9,416 shares during the last quarter. Paloma Partners Management Co bought a new stake in GrafTech International during the first quarter worth approximately $76,000. 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 valued at $81,000 after acquiring an additional 32,450 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of GrafTech International during the third quarter valued at approximately $81,000. Finally, Quadrature Capital Ltd boosted its stake in shares of GrafTech International by 11.3% during the first quarter. Quadrature Capital Ltd now owns 81,219 shares of the company’s stock valued at $113,000 after purchasing an additional 8,271 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

GrafTech International Stock Performance

The company has a market capitalization of $578.63 million, a PE ratio of -1.97 and a beta of 0.94. The firm’s 50-day simple moving average is $1.42 and its 200-day simple moving average is $1.26. The company has a current ratio of 4.22, a quick ratio of 2.01 and a debt-to-equity ratio of 57.38.

About GrafTech International

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.