Clearwater Paper (NYSE:CLW) Stock Gets Price Target Reduction from Royal Bank Of Canada

Clearwater Paper (NYSE:CLW) had its target price reduced by Royal Bank Of Canada from $23.00 to $22.00 in a report published on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. Bank of America raised their price objective on Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Clearwater Paper in a report on Wednesday, August 5th. Truist Financial increased their price target on Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Zacks Research upgraded Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Finally, TD Securities reaffirmed a “hold” rating and set a $20.00 price target on shares of Clearwater Paper in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Clearwater Paper presently has a consensus rating of “Hold” and a consensus target price of $19.67.

Clearwater Paper Price Performance

Shares of CLW opened at $13.01 on Tuesday. The company’s fifty day simple moving average is $19.77 and its 200 day simple moving average is $17.17. Clearwater Paper has a 1-year low of $11.73 and a 1-year high of $23.59. The company has a market cap of $209.93 million, a price-to-earnings ratio of 81.29 and a beta of 0.33. The company has a current ratio of 1.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Monday, October 26th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Clearwater Paper had a net margin of 0.16% and a negative return on equity of 7.36%. The firm had revenue of $384.90 million during the quarter, compared to the consensus estimate of $388.39 million. On average, research analysts forecast that Clearwater Paper will post -2.80 earnings per share for the current fiscal year.

Institutional Trading of Clearwater Paper

Several hedge funds have recently added to or reduced their stakes in CLW. Empowered Funds LLC acquired a new position in shares of Clearwater Paper in the second quarter valued at about $1,303,000. Bank of New York Mellon Corp acquired a new position in shares of Clearwater Paper during the 2nd quarter worth approximately $831,000. Jefferies Financial Group Inc. bought a new position in shares of Clearwater Paper during the second quarter worth approximately $1,014,000. BlackRock Inc. bought a new position in shares of Clearwater Paper during the second quarter worth approximately $19,788,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Clearwater Paper by 107.4% during the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock worth $3,410,000 after purchasing an additional 122,815 shares during the period. 89.98% of the stock is owned by institutional investors and hedge funds.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation’s pulp and paperboard businesses.