Clearwater Paper (NYSE:CLW) Price Target Raised to $17.00

Clearwater Paper (NYSE:CLW) had its price objective raised by equities researchers at Truist Financial from $12.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Truist Financial’s price target suggests a potential upside of 12.87% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD Securities cut Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. TD Cowen downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research note on Friday, May 8th. TD cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $17.00 in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.17.

Clearwater Paper Stock Down 0.8%

Shares of NYSE CLW opened at $15.06 on Wednesday. The company has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $15.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 1.26. Clearwater Paper has a 1 year low of $11.73 and a 1 year high of $30.96. The firm has a market cap of $242.80 million, a PE ratio of -9.78 and a beta of 0.27.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLW. Meeder Asset Management Inc. acquired a new stake in Clearwater Paper in the fourth quarter valued at approximately $47,000. Group One Trading LLC increased 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 acquiring an additional 2,316 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 563 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Clearwater Paper by 26.4% in 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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 worth $179,000 after purchasing an additional 5,656 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

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.