Citigroup Boosts GrafTech International (NYSE:EAF) Price Target to $2.20

GrafTech International (NYSE:EAF) had its target price upped by Citigroup from $1.00 to $2.20 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 10.00% from the stock’s previous close.

GrafTech International Stock Down 7.0 %

GrafTech International stock opened at $2.00 on Tuesday. The firm has a market cap of $514.33 million, a price-to-earnings ratio of -1.71 and a beta of 0.95. GrafTech International has a 52 week low of $0.52 and a 52 week high of $2.76. The business’s 50-day moving average price is $1.83 and its 200 day moving average price is $1.29. The company has a quick ratio of 1.98, a current ratio of 3.79 and a debt-to-equity ratio of 57.38.

GrafTech International (NYSE:EAF) last posted its earnings results on Tuesday, November 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $130.65 million for the quarter, compared to analyst estimates of $128.14 million. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. During the same period last year, the company earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that GrafTech International will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On GrafTech International

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its position in GrafTech International by 287.8% during the second quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock worth $4,914,000 after purchasing an additional 3,759,449 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GrafTech International by 1.2% in the third quarter. Geode Capital Management LLC now owns 5,053,060 shares of the company’s stock valued at $6,671,000 after acquiring an additional 59,424 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of GrafTech International by 81.0% in the third quarter. Franklin Resources Inc. now owns 4,536,232 shares of the company’s stock valued at $6,623,000 after acquiring an additional 2,029,350 shares in the last quarter. Foundation Resource Management Inc. lifted its position in shares of GrafTech International by 1.3% in the third quarter. Foundation Resource Management Inc. now owns 1,873,481 shares of the company’s stock valued at $2,473,000 after acquiring an additional 24,138 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of GrafTech International by 13.6% in the third quarter. Jane Street Group LLC now owns 885,147 shares of the company’s stock valued at $1,168,000 after acquiring an additional 106,091 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

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.