Clearwater Paper Corporation (NYSE:CLW) Given Consensus Rating of “Hold” by Brokerages

Clearwater Paper Corporation (NYSE:CLW) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.50.

CLW has been the subject of several analyst reports. Zacks Research raised shares of Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price target on shares of Clearwater Paper in a research note on Wednesday. TD downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and lowered their price target for the stock from $19.00 to $17.00 in a report on Wednesday, April 29th. Truist Financial boosted their price objective on shares of Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds have recently made changes to their positions in CLW. Millennium Management LLC grew its position in shares of Clearwater Paper by 158.1% in the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after purchasing an additional 221,029 shares during the period. UBS Group AG lifted its position in Clearwater Paper by 228.3% during the third quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after buying an additional 179,539 shares during the period. Invenomic Capital Management LP boosted its stake in Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after buying an additional 169,880 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Clearwater Paper by 33.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after buying an additional 139,013 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Clearwater Paper by 107.4% during the 1st quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock valued at $3,410,000 after acquiring an additional 122,815 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Stock Performance

NYSE CLW opened at $21.61 on Thursday. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $28.51. The stock has a market cap of $348.27 million, a price-to-earnings ratio of -7.11 and a beta of 0.27. The business has a fifty day moving average of $16.20 and a 200-day moving average of $15.74. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.26). The company had revenue of $374.80 million during the quarter, compared to analysts’ expectations of $374.80 million. Clearwater Paper had a negative net margin of 3.24% and a negative return on equity of 7.91%. As a group, analysts predict that Clearwater Paper will post -3.41 earnings per share for the current fiscal year.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.