Clearwater Paper (NYSE:CLW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, March 15th.
According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “
Separately, Royal Bank of Canada dropped their price target on shares of Clearwater Paper from $47.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Clearwater Paper has a consensus rating of “Hold” and a consensus target price of $42.50.
CLW traded up $0.05 during midday trading on Thursday, reaching $37.20. The company had a trading volume of 57,582 shares, compared to its average volume of 111,892. The company has a quick ratio of 0.45, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. The stock has a market cap of $611.04, a price-to-earnings ratio of 16.03, a PEG ratio of 2.53 and a beta of 0.98. Clearwater Paper has a 12-month low of $33.80 and a 12-month high of $57.25.
Clearwater Paper (NYSE:CLW) last released its earnings results on Monday, February 5th. The basic materials company reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). The company had revenue of $436.70 million during the quarter, compared to analysts’ expectations of $431.04 million. Clearwater Paper had a net margin of 5.63% and a return on equity of 7.12%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts anticipate that Clearwater Paper will post 2.93 earnings per share for the current year.
In related news, VP Michael S. Gadd sold 5,368 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $37.68, for a total transaction of $202,266.24. Following the sale, the vice president now directly owns 11,712 shares in the company, valued at approximately $441,308.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in CLW. Elkfork Partners LLC purchased a new stake in shares of Clearwater Paper during the 4th quarter valued at approximately $113,000. Public Employees Retirement System of Ohio lifted its stake in shares of Clearwater Paper by 17.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock valued at $134,000 after buying an additional 420 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Clearwater Paper during the 3rd quarter valued at approximately $182,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Clearwater Paper during the 3rd quarter valued at approximately $204,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Clearwater Paper during the 3rd quarter valued at approximately $256,000. Institutional investors own 87.64% of the company’s stock.
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About Clearwater Paper
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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