Clearwater Paper Corporation (NYSE:CLW) Receives Average Rating of “Hold” from Brokerages

Shares of Clearwater Paper Corporation (NYSE:CLW) have earned an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.25.

Several brokerages recently weighed in on CLW. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a research note on Monday, December 29th. Royal Bank Of Canada reduced their price objective on Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. TD Securities dropped their target price on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Finally, Truist Financial cut their target price on shares of Clearwater Paper from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, February 19th.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Readystate Asset Management LP lifted its holdings in shares of Clearwater Paper by 19.2% during the third quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock valued at $15,822,000 after acquiring an additional 122,688 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Clearwater Paper by 33.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after purchasing an additional 139,013 shares during the last quarter. Towle & Co. boosted its position in Clearwater Paper by 12.4% in the third quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock valued at $7,615,000 after buying an additional 40,575 shares in the last quarter. Millennium Management LLC grew its stake in Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after buying an additional 221,029 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of Clearwater Paper by 113.0% during the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after buying an additional 169,880 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $14.94 on Monday. The business has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $18.93. The company has a current ratio of 2.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. Clearwater Paper has a 1 year low of $13.84 and a 1 year high of $30.96. The firm has a market cap of $239.56 million, a price-to-earnings ratio of -13.33 and a beta of 0.23.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Clearwater Paper had a negative return on equity of 2.11% and a negative net margin of 1.20%.The business had revenue of $386.40 million for the quarter, compared to analyst estimates of $379.00 million.

About Clearwater Paper

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.