Clearwater Paper (NYSE:CLW) Given New $25.00 Price Target at Bank of America

Clearwater Paper (NYSE:CLW) had its price target increased by research analysts at Bank of America from $24.00 to $25.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Bank of America‘s price objective would indicate a potential upside of 23.27% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CLW. Wall Street Zen cut Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. TD Securities restated a “hold” rating and issued a $20.00 price target on shares of Clearwater Paper in a report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Clearwater Paper in a research report on Wednesday, July 29th. Truist Financial increased their price objective on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Clearwater Paper in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.50.

Clearwater Paper Stock Up 1.8%

Shares of Clearwater Paper stock traded up $0.36 on Friday, hitting $20.28. The company had a trading volume of 25,322 shares, compared to its average volume of 207,606. The stock has a 50-day moving average of $19.49 and a 200-day moving average of $16.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.17. Clearwater Paper has a twelve month low of $11.73 and a twelve month high of $23.59. The firm has a market capitalization of $327.12 million, a P/E ratio of -6.67 and a beta of 0.22.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.26). The company had revenue of $374.80 million for the quarter, compared to analyst estimates of $374.80 million. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. Research analysts predict that Clearwater Paper will post -2.95 earnings per share for the current year.

Institutional Trading of Clearwater Paper

A number of hedge funds and other institutional investors have recently modified their holdings of CLW. Renaissance Technologies LLC grew its holdings in Clearwater Paper by 107.4% during the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock worth $3,410,000 after purchasing an additional 122,815 shares during the period. BlackRock Inc. bought a new stake in Clearwater Paper in the second quarter valued at approximately $19,788,000. Man Group plc acquired a new stake in shares of Clearwater Paper in the second quarter valued at approximately $2,986,000. Empowered Funds LLC acquired a new stake in shares of Clearwater Paper in the second quarter valued at approximately $1,303,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Clearwater Paper during the 2nd quarter worth approximately $1,014,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.