Clearwater Paper (NYSE:CLW) Earns Hold Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of Clearwater Paper (NYSE:CLW) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $21.00 price target on the basic materials company’s stock. Truist Financial’s price target indicates a potential upside of 4.39% from the company’s previous close.

A number of other research firms have also recently commented on CLW. TD Cowen started coverage on shares of Clearwater Paper in a report on Monday, September 22nd. They issued a “buy” rating and a $30.00 target price for the company. Royal Bank Of Canada lowered their price objective on shares of Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Cowen initiated coverage on shares of Clearwater Paper in a research note on Monday, September 22nd. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Finally, Wall Street Zen raised Clearwater Paper from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.75.

Clearwater Paper Trading Down 2.1%

Shares of CLW opened at $20.12 on Tuesday. Clearwater Paper has a 52-week low of $16.44 and a 52-week high of $33.56. The business’s fifty day moving average is $18.28 and its 200-day moving average is $20.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 2.10. The firm has a market cap of $322.68 million, a price-to-earnings ratio of 2.39 and a beta of 0.20.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.02. The business had revenue of $399.00 million during the quarter, compared to the consensus estimate of $387.86 million. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.

Insider Buying and Selling at Clearwater Paper

In related news, VP Steve M. Bowden sold 8,889 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $18.14, for a total value of $161,246.46. Following the sale, the vice president owned 68,516 shares of the company’s stock, valued at $1,242,880.24. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Clearwater Paper by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 390 shares during the last quarter. Woodmont Investment Counsel LLC lifted its position in shares of Clearwater Paper by 1.3% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 40,170 shares of the basic materials company’s stock worth $1,094,000 after purchasing an additional 500 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Clearwater Paper by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 563 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Clearwater Paper by 3.3% during the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the basic materials company’s stock worth $480,000 after buying an additional 567 shares during the period. Finally, Significant Wealth Partners LLC raised its stake in Clearwater Paper by 5.7% during the second quarter. Significant Wealth Partners LLC now owns 12,639 shares of the basic materials company’s stock worth $344,000 after buying an additional 686 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.