Royal Bank of Canada Increases Clearwater Paper (NYSE:CLW) Price Target to $48.00

Clearwater Paper (NYSE:CLW) had its price target raised by equities research analysts at Royal Bank of Canada from $42.00 to $48.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target points to a potential upside of 47.15% from the stock’s current price.

Clearwater Paper Trading Down 7.4 %

CLW stock traded down $2.59 during midday trading on Wednesday, reaching $32.62. The company’s stock had a trading volume of 466,162 shares, compared to its average volume of 178,825. The business’s 50-day simple moving average is $49.92 and its 200-day simple moving average is $44.21. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 0.65. The stock has a market cap of $544.04 million, a PE ratio of 5.51 and a beta of 0.40. Clearwater Paper has a 52 week low of $31.38 and a 52 week high of $57.13.

Institutional Trading of Clearwater Paper

Hedge funds have recently modified their holdings of the company. Wasatch Advisors LP acquired a new position in shares of Clearwater Paper in the 4th quarter valued at $9,909,000. Grizzlyrock Capital LLC bought a new position in Clearwater Paper during the fourth quarter worth about $4,585,000. Allspring Global Investments Holdings LLC grew its stake in Clearwater Paper by 780.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock valued at $4,772,000 after acquiring an additional 96,740 shares during the period. American Century Companies Inc. grew its stake in Clearwater Paper by 23.2% in the second quarter. American Century Companies Inc. now owns 495,358 shares of the basic materials company’s stock valued at $24,010,000 after acquiring an additional 93,123 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Clearwater Paper by 39.1% in the second quarter. Acadian Asset Management LLC now owns 218,505 shares of the basic materials company’s stock worth $10,586,000 after acquiring an additional 61,366 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.