Clearwater Paper (NYSE:CLW) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Clearwater Paper (NYSE:CLW) to a hold rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen lowered Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th. TD Securities downgraded Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a report on Friday, May 8th. Finally, Truist Financial reissued a “hold” rating and set a $12.00 price target (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Clearwater Paper currently has an average rating of “Hold” and an average target price of $17.33.

Clearwater Paper Trading Down 1.0%

NYSE CLW opened at $15.71 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $253.18 million, a P/E ratio of -10.20 and a beta of 0.27. Clearwater Paper has a 52-week low of $11.73 and a 52-week high of $30.96. The firm has a 50-day moving average price of $15.32 and a 200 day moving average price of $15.93.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.32) by $0.03. The company had revenue of $360.30 million for the quarter, compared to analysts’ expectations of $363.55 million. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%. Equities research analysts expect that Clearwater Paper will post -3.41 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 563 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Clearwater Paper in the 4th quarter valued at about $47,000. Group One Trading LLC grew its holdings in shares of Clearwater Paper by 184.4% during the 1st quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,316 shares during the period. Versant Capital Management Inc grew its holdings in shares of Clearwater Paper by 26.4% during the 2nd quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 965 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Clearwater Paper by 608.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 5,656 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

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.