Zacks Investment Research upgraded shares of Clearwater Paper (NYSE:CLW) from a sell rating to a hold rating in a research note released 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. “
Several other research analysts have also commented on the stock. Royal Bank of Canada dropped their price objective on shares of Clearwater Paper from $24.00 to $22.00 and set a sector perform rating for the company in a research note on Thursday, May 2nd. TheStreet lowered shares of Clearwater Paper from a c rating to a d rating in a research note on Wednesday, March 13th. ValuEngine lowered shares of Clearwater Paper from a hold rating to a sell rating in a research note on Monday, February 25th. DA Davidson dropped their price objective 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, KeyCorp reaffirmed a hold rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $32.67.
Shares of CLW opened at $19.30 on Tuesday. Clearwater Paper has a fifty-two week low of $16.05 and a fifty-two week high of $35.27. The firm has a market capitalization of $318.58 million, a P/E ratio of 7.57 and a beta of 1.81. The company has a current ratio of 0.94, a quick ratio of 0.39 and a debt-to-equity ratio of 1.55.
Clearwater Paper (NYSE:CLW) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.10). Clearwater Paper had a positive return on equity of 7.76% and a negative net margin of 8.31%. The business had revenue of $428.78 million during the quarter, compared to the consensus estimate of $422.99 million. As a group, analysts anticipate that Clearwater Paper will post -0.3 EPS for the current year.
In other news, insider Linda K. Massman acquired 5,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $17.92 per share, with a total value of $98,560.00. Following the completion of the purchase, the insider now directly owns 243,976 shares of the company’s stock, valued at $4,372,049.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.97% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Clearwater Paper by 1.7% during the fourth quarter. BlackRock Inc. now owns 2,476,961 shares of the basic materials company’s stock valued at $60,364,000 after purchasing an additional 41,288 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Clearwater Paper by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,384,217 shares of the basic materials company’s stock valued at $26,965,000 after purchasing an additional 24,583 shares during the period. LSV Asset Management boosted its stake in shares of Clearwater Paper by 4.2% during the first quarter. LSV Asset Management now owns 656,377 shares of the basic materials company’s stock valued at $12,786,000 after purchasing an additional 26,331 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Clearwater Paper by 9.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 352,292 shares of the basic materials company’s stock valued at $6,863,000 after purchasing an additional 30,114 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Clearwater Paper by 19.6% during the first quarter. Wedge Capital Management L L P NC now owns 328,875 shares of the basic materials company’s stock valued at $6,406,000 after purchasing an additional 53,845 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.
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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