Clearwater Paper (CLW) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Clearwater Paper (NYSE:CLW) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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. “

A number of other equities analysts also recently weighed in on CLW. ValuEngine downgraded shares of Clearwater Paper from a buy rating to a hold rating in a research note on Tuesday, December 25th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $29.00 price target on shares of Clearwater Paper in a research note on Wednesday, March 13th. DA Davidson decreased their price target on shares of Clearwater Paper to $44.00 and set a buy rating for the company in a research note on Thursday, March 14th. Finally, TheStreet downgraded shares of Clearwater Paper from a c rating to a d rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $34.25.

Shares of NYSE CLW opened at $19.59 on Tuesday. Clearwater Paper has a twelve month low of $18.95 and a twelve month high of $40.85. The firm has a market cap of $322.05 million, a P/E ratio of 7.68, a PEG ratio of 9.40 and a beta of 1.75. The company has a quick ratio of 0.40, a current ratio of 0.99 and a debt-to-equity ratio of 1.57.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Tuesday, March 12th. The basic materials company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Clearwater Paper had a negative net margin of 8.34% and a positive return on equity of 7.55%. The business had revenue of $428.71 million during the quarter, compared to the consensus estimate of $413.21 million. On average, research analysts predict that Clearwater Paper will post 0.42 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CLW. BlackRock Inc. grew its holdings in shares of Clearwater Paper by 4.7% during the third quarter. BlackRock Inc. now owns 2,435,673 shares of the basic materials company’s stock valued at $72,339,000 after buying an additional 108,439 shares during the last quarter. Norges Bank acquired a new position in shares of Clearwater Paper during the fourth quarter valued at about $2,630,000. Peregrine Capital Management LLC grew its holdings in shares of Clearwater Paper by 49.7% during the fourth quarter. Peregrine Capital Management LLC now owns 298,701 shares of the basic materials company’s stock valued at $7,279,000 after buying an additional 99,203 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Clearwater Paper by 32.3% during the fourth quarter. Prudential Financial Inc. now owns 215,416 shares of the basic materials company’s stock valued at $5,250,000 after buying an additional 52,618 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Clearwater Paper during the fourth quarter worth about $1,242,000. Hedge funds and other institutional investors own 87.91% of the company’s stock.

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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