Clearwater Paper Corporation (NYSE:CLW) Given Consensus Rating of “Hold” by Brokerages

Shares of Clearwater Paper Corporation (NYSE:CLW) have earned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.00.

CLW has been the topic of several research reports. 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 note on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down from $15.00) on shares of Clearwater Paper in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, TD Securities downgraded shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th.

Hedge Funds Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in shares of Clearwater Paper by 107.4% in the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock worth $3,410,000 after buying an additional 122,815 shares in the last quarter. Group One Trading LLC raised its stake in 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 worth $51,000 after purchasing an additional 2,316 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Clearwater Paper by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,678 shares of the basic materials company’s stock worth $211,000 after purchasing an additional 1,450 shares during the period. Fifth Third Bancorp purchased a new position in Clearwater Paper during the first quarter worth about $401,000. Finally, Assenagon Asset Management S.A. raised its stake in Clearwater Paper by 34.8% during the first quarter. Assenagon Asset Management S.A. now owns 114,013 shares of the basic materials company’s stock worth $1,640,000 after purchasing an additional 29,407 shares during the period. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Stock Down 3.1%

Shares of NYSE CLW opened at $13.30 on Friday. The company’s 50-day simple moving average is $14.17 and its 200-day simple moving average is $16.49. Clearwater Paper has a 52-week low of $11.73 and a 52-week high of $30.96. The firm has a market cap of $214.40 million, a price-to-earnings ratio of -8.64 and a beta of 0.21. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.03. The business had revenue of $360.30 million for the quarter, compared to analyst estimates of $363.55 million. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%.

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.