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

Clearwater Paper (NYSE:CLW) was upgraded by analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Bank of America assumed coverage on shares of Clearwater Paper in a research report on Thursday, July 2nd. They set a “buy” rating and a $19.00 price target for the company. TD Cowen lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a report on Friday, May 8th. Royal Bank Of Canada cut 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. Finally, Truist Financial reaffirmed a “hold” rating and set a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Clearwater Paper currently has a consensus rating of “Hold” and a consensus price target of $17.33.

Clearwater Paper Stock Performance

NYSE:CLW opened at $15.71 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 1.26. The firm has a market cap of $253.18 million, a PE ratio of -10.20 and a beta of 0.27. The firm has a 50 day simple moving average of $15.32 and a 200-day simple moving average of $15.93. Clearwater Paper has a 1-year low of $11.73 and a 1-year high of $30.96.

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

Hedge Funds Weigh In On Clearwater Paper

Several large investors have recently added to or reduced their stakes in CLW. 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 valued at $60,000 after purchasing an additional 563 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Clearwater Paper during 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 first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 2,316 shares during the last quarter. Versant Capital Management Inc increased its position in Clearwater Paper by 26.4% in the second quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock worth $73,000 after buying an additional 965 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Clearwater Paper by 608.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 5,656 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

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.