Clearwater Paper (NYSE:CLW) Price Target Raised to $42.00

Clearwater Paper (NYSE:CLW) had its target price boosted by Royal Bank of Canada from $41.00 to $42.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 7.85% from the company’s current price.

Separately, StockNews.com downgraded shares of Clearwater Paper from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd.

Clearwater Paper Stock Performance

Shares of CLW stock traded up $4.89 during trading on Tuesday, reaching $45.58. The company had a trading volume of 242,346 shares, compared to its average volume of 180,260. The firm’s 50 day simple moving average is $40.45 and its two-hundred day simple moving average is $37.05. Clearwater Paper has a one year low of $29.22 and a one year high of $47.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 0.85. The company has a market capitalization of $754.80 million, a PE ratio of 7.08 and a beta of 0.52.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Monday, April 29th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.32. The business had revenue of $496.20 million for the quarter. Clearwater Paper had a net margin of 5.17% and a return on equity of 18.13%. During the same quarter in the previous year, the business posted $1.47 earnings per share.

Hedge Funds Weigh In On Clearwater Paper

Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP bought a new position in Clearwater Paper during the 4th quarter worth approximately $9,909,000. Grizzlyrock Capital LLC acquired a new stake in shares of Clearwater Paper in the fourth quarter valued at about $4,585,000. Allspring Global Investments Holdings LLC increased its holdings in Clearwater Paper by 780.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 109,134 shares of the basic materials company’s stock worth $4,772,000 after buying an additional 96,740 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Clearwater Paper by 47.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 153,165 shares of the basic materials company’s stock valued at $5,552,000 after acquiring an additional 49,141 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Clearwater Paper by 32.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 126,056 shares of the basic materials company’s stock valued at $4,553,000 after purchasing an additional 31,010 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.