GrafTech International (NYSE:EAF) Stock Rating Upgraded by JPMorgan Chase & Co.

GrafTech International (NYSE:EAF - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report released on Friday, Marketbeat.com reports.

Separately, Citigroup lifted their price objective on shares of GrafTech International from $1.00 to $2.20 and gave the company a "neutral" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $1.80.

GrafTech International Stock Performance

Shares of EAF stock traded up $0.03 on Friday, hitting $2.06. 1,445,338 shares of the stock were exchanged, compared to its average volume of 3,023,787. The firm's 50 day moving average is $1.85 and its two-hundred day moving average is $1.30. GrafTech International has a one year low of $0.52 and a one year high of $2.76. The firm has a market capitalization of $529.77 million, a PE ratio of -1.74 and a beta of 0.95. The company has a current ratio of 3.79, a quick ratio of 1.98 and a debt-to-equity ratio of 57.38.

GrafTech International (NYSE:EAF - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $130.65 million for 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 459.99%. During the same period in the prior year, the firm earned ($0.08) earnings per share. Sell-side analysts expect that GrafTech International will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in shares of GrafTech International by 287.8% during the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company's stock valued at $4,914,000 after acquiring an additional 3,759,449 shares during the last quarter. Franklin Resources Inc. lifted its position in GrafTech International by 81.0% during the third quarter. Franklin Resources Inc. now owns 4,536,232 shares of the company's stock valued at $6,623,000 after purchasing an additional 2,029,350 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of GrafTech International by 60.8% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company's stock worth $843,000 after buying an additional 328,565 shares during the last quarter. Choreo LLC purchased a new stake in shares of GrafTech International during the 2nd quarter valued at $155,000. Finally, Virtu Financial LLC raised its position in shares of GrafTech International by 385.5% during the 3rd quarter. Virtu Financial LLC now owns 175,702 shares of the company's stock valued at $232,000 after buying an additional 139,513 shares in the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

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.