Clearwater Paper (NYSE:CLW) Stock Rating Upgraded by Zacks Research

Clearwater Paper (NYSE:CLW) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued on Monday,Zacks.com reports.

CLW has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Clearwater Paper in a research note on Friday, May 8th. TD Cowen downgraded Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a report on Wednesday, April 29th. Bank of America initiated coverage on Clearwater Paper in a research report on Thursday, July 2nd. They issued a “buy” rating and a $19.00 target price on the stock. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Sunday, June 28th. Finally, TD Securities cut shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.33.

Clearwater Paper Trading Down 1.0%

NYSE CLW opened at $15.71 on Monday. Clearwater Paper has a 12-month low of $11.73 and a 12-month high of $30.96. The company has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $15.93. The company has a current ratio of 2.61, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. The stock has a market cap of $253.18 million, a P/E ratio of -10.20 and a beta of 0.27.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, beating 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, analysts forecast that Clearwater Paper will post -3.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Clearwater Paper by 158.1% in the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after buying an additional 221,029 shares during the last quarter. UBS Group AG boosted its stake in Clearwater Paper by 228.3% during the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after purchasing an additional 179,539 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of Clearwater Paper by 113.0% during the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after buying an additional 169,880 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Clearwater Paper by 33.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after buying an additional 139,013 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

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.