GrafTech International (NYSE:EAF) Stock Price Up 11% on Strong Earnings

GrafTech International Ltd. (NYSE:EAF) was up 11% during trading on Wednesday following a stronger than expected earnings report. 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 business 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 previous year, the company posted ($0.08) earnings per share.

Wall Street Analysts Forecast Growth

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

Institutional Trading of GrafTech International

A number of institutional investors and hedge funds have recently bought and sold shares of EAF. Public Employees Retirement System of Ohio lifted its stake in 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 worth $35,000 after purchasing an additional 9,416 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of GrafTech International during the 1st quarter worth approximately $76,000. Tyler Stone Wealth Management boosted its holdings in shares of GrafTech International by 113.3% in the 3rd quarter. Tyler Stone Wealth Management now owns 61,100 shares of the company’s stock valued at $81,000 after buying an additional 32,450 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of GrafTech International in the 3rd quarter valued at about $81,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of GrafTech International by 11.3% in the first quarter. Quadrature Capital Ltd now owns 81,219 shares of the company’s stock valued at $113,000 after acquiring an additional 8,271 shares during the period. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Stock Performance

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

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.