Clearwater Paper (NYSE:CLW) Research Coverage Started at Truist Financial

Truist Financial assumed coverage on shares of Clearwater Paper (NYSE:CLW) in a research report report published on Tuesday, Marketbeat reports. The firm issued a hold rating and a $21.00 price target on the basic materials company’s stock.

CLW has been the subject of a number of other reports. TD Securities set a $30.00 price target on shares of Clearwater Paper and gave the stock a “buy” rating in a report on Monday, September 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a research note on Monday, December 29th. TD Cowen initiated coverage on Clearwater Paper in a research report on Monday, September 22nd. They issued a “buy” rating for the company. Royal Bank Of Canada cut their price target on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.75.

Clearwater Paper Trading Up 0.1%

Shares of CLW stock opened at $18.29 on Tuesday. The company has a market cap of $293.37 million, a P/E ratio of 2.18 and a beta of 0.20. The stock has a 50 day simple moving average of $18.27 and a two-hundred day simple moving average of $20.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 2.10. Clearwater Paper has a fifty-two week low of $16.44 and a fifty-two week high of $33.56.

Clearwater Paper (NYSE:CLW) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.02. The firm had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $387.86 million. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.

Insider Activity

In other news, VP Steve M. Bowden sold 8,889 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $18.14, for a total value of $161,246.46. Following the completion of the sale, the vice president owned 68,516 shares in the company, valued at $1,242,880.24. This represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Clearwater Paper by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock valued at $244,000 after buying an additional 390 shares during the last quarter. Woodmont Investment Counsel LLC increased its position in shares of Clearwater Paper by 1.3% during the second quarter. Woodmont Investment Counsel LLC now owns 40,170 shares of the basic materials company’s stock valued at $1,094,000 after acquiring an additional 500 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 period. SummerHaven Investment Management LLC boosted its position in Clearwater Paper by 3.3% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 567 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its stake in Clearwater Paper by 5.7% in the 2nd quarter. Significant Wealth Partners LLC now owns 12,639 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 686 shares during the period. 89.98% of the stock is currently owned by hedge funds and other 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.