Clearwater Paper (CLW) Upgraded to “Buy” at Zacks Investment Research

Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, March 14th. The firm presently has a $43.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.59% from the company’s current price.

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. “

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Separately, Royal Bank of Canada reduced their target price on Clearwater Paper from $47.00 to $43.00 and set a “sector perform” rating for the company in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.50.

Clearwater Paper stock traded up $0.05 during midday trading on Wednesday, reaching $37.20. The company’s stock had a trading volume of 57,582 shares, compared to its average volume of 111,892. Clearwater Paper has a fifty-two week low of $33.80 and a fifty-two week high of $57.25. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.45 and a current ratio of 1.08. The company has a market cap of $611.04, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98.

Clearwater Paper (NYSE:CLW) last released its earnings results on Monday, February 5th. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Clearwater Paper had a net margin of 5.63% and a return on equity of 7.12%. The business had revenue of $436.70 million during the quarter, compared to analyst estimates of $431.04 million. During the same period last year, the business posted $0.82 EPS. Clearwater Paper’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts predict that Clearwater Paper will post 2.93 EPS for the current year.

In other news, VP Michael S. Gadd sold 5,368 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $37.68, for a total value of $202,266.24. Following the completion of the transaction, the vice president now owns 11,712 shares in the company, valued at $441,308.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.41% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new position in shares of Clearwater Paper in the fourth quarter valued at $113,000. MetLife Investment Advisors LLC purchased a new position in shares of Clearwater Paper in the fourth quarter valued at $356,000. Millennium Management LLC increased its position in shares of Clearwater Paper by 61.4% in the fourth quarter. Millennium Management LLC now owns 59,784 shares of the basic materials company’s stock valued at $2,714,000 after buying an additional 22,744 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Clearwater Paper by 35.3% in the fourth quarter. Two Sigma Investments LP now owns 72,273 shares of the basic materials company’s stock valued at $3,281,000 after buying an additional 18,843 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Clearwater Paper by 57.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 66,477 shares of the basic materials company’s stock valued at $3,018,000 after buying an additional 24,232 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

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Clearwater Paper Company Profile

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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