Clearwater Paper Corporation (NYSE:CLW) Receives Consensus Recommendation of “Hold” from Brokerages

Clearwater Paper Corporation (NYSE:CLW) has received an average rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $19.50.

CLW has been the subject of several recent analyst reports. TD Securities reaffirmed a “hold” rating and set a $20.00 price objective on shares of Clearwater Paper in a research note on Wednesday, July 29th. Bank of America increased their target price on shares of Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price target on shares of Clearwater Paper in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Clearwater Paper in a research report on Wednesday, August 5th.

Clearwater Paper Trading Down 4.9%

Shares of CLW stock opened at $20.34 on Friday. The company has a market cap of $328.10 million, a PE ratio of -6.69 and a beta of 0.22. Clearwater Paper has a 1 year low of $11.73 and a 1 year high of $23.59. The stock’s 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $16.93. 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 (NYSE:CLW) last released its earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.26). Clearwater Paper had a negative net margin of 3.24% and a negative return on equity of 7.95%. The company had revenue of $374.80 million for the quarter, compared to the consensus estimate of $374.80 million. Research analysts predict that Clearwater Paper will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently modified their holdings of CLW. BlackRock Inc. purchased a new position in Clearwater Paper during the 2nd quarter valued at $19,788,000. Readystate Asset Management LP raised its stake in Clearwater Paper by 2.5% in the 1st quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock valued at $11,236,000 after purchasing an additional 19,246 shares during the last quarter. Invenomic Capital Management LP lifted its stake in shares of Clearwater Paper by 113.0% in 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 purchasing an additional 169,880 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of 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 buying an additional 122,815 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Clearwater Paper during the second quarter worth $2,986,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard products used in packaging and other commercial applications. Its products include folding carton board, cup stock, liquid packaging board, and other paperboard grades designed for food, beverage, consumer, and industrial packaging.

The company serves customers primarily in North America through a network of manufacturing facilities and converting operations. Clearwater Paper’s paperboard products are used to make cartons, containers, cups, and related packaging for consumer and commercial goods.

Clearwater Paper was established in 2008 when it was spun off from Potlatch Corporation.