Clearwater Paper (CLW) Lifted to Buy at Zacks Investment Research

Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $43.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.71% from the company’s previous close.

According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “

Separately, Royal Bank of Canada dropped their price target on Clearwater Paper from $47.00 to $43.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of Clearwater Paper (NYSE CLW) traded down $0.35 during mid-day trading on Wednesday, hitting $38.15. The stock had a trading volume of 108,357 shares, compared to its average volume of 112,855. Clearwater Paper has a 1 year low of $33.80 and a 1 year high of $58.00. The company has a quick ratio of 0.45, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $630.78, a PE ratio of 6.51, a price-to-earnings-growth ratio of 2.40 and a beta of 1.07.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Monday, February 5th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.01). Clearwater Paper had a return on equity of 7.12% and a net margin of 5.63%. The firm had revenue of $436.70 million during the quarter, compared to the consensus estimate of $431.04 million. During the same period last year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. research analysts forecast that Clearwater Paper will post 3.2 EPS for the current fiscal year.

In related news, VP Michael S. Gadd sold 5,368 shares of Clearwater Paper stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $37.68, for a total value of $202,266.24. Following the completion of the transaction, the vice president now owns 11,712 shares in the company, valued at $441,308.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.41% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC purchased a new position in shares of Clearwater Paper during the fourth quarter valued at approximately $113,000. Public Employees Retirement System of Ohio boosted its position in shares of Clearwater Paper by 17.2% during the second quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock valued at $134,000 after buying an additional 420 shares during the period. SG Americas Securities LLC purchased a new position in shares of Clearwater Paper during the third quarter valued at approximately $182,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Clearwater Paper during the third quarter valued at approximately $204,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Clearwater Paper during the third quarter valued at approximately $256,000. Institutional investors own 87.63% of the company’s stock.

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Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.

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