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

Clearwater Paper Corporation (NYSE:CLW) has been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.50.

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Clearwater Paper in a research note on Wednesday, August 5th. Truist Financial increased their price target on Clearwater Paper from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Sunday, June 28th. Bank of America assumed coverage on shares of Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, TD Securities restated a “hold” rating and set a $20.00 price objective on shares of Clearwater Paper in a research report on Wednesday, July 29th.

Institutional Trading of Clearwater Paper

Several hedge funds and other institutional investors have recently made changes to their positions in CLW. BlackRock Inc. acquired a new position in shares of Clearwater Paper during the 2nd quarter worth $19,788,000. Millennium Management LLC grew its stake 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 valued at $6,278,000 after acquiring an additional 221,029 shares during the last quarter. Man Group plc acquired a new stake in Clearwater Paper in the 2nd quarter valued at about $2,986,000. UBS Group AG increased its holdings 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 valued at $5,360,000 after acquiring an additional 179,539 shares in the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Clearwater Paper by 113.0% during the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after acquiring an additional 169,880 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $20.76 on Monday. The stock’s 50-day simple moving average is $18.70 and its 200-day simple moving average is $16.26. The firm has a market capitalization of $334.86 million, a PE ratio of -6.83 and a beta of 0.24. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $23.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 2.29.

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

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.