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

Clearwater Paper Corporation (NYSE:CLW) has been assigned an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.25.

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

Clearwater Paper Stock Up 0.4%

Shares of NYSE CLW opened at $14.29 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $15.88 and its two-hundred day moving average is $17.95. Clearwater Paper has a 52-week low of $12.44 and a 52-week high of $30.96. The firm has a market cap of $229.21 million, a price-to-earnings ratio of -12.76 and a beta of 0.23.

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

Hedge Funds Weigh In On Clearwater Paper

Large investors have recently bought and sold shares of the business. Readystate Asset Management LP lifted its position in shares of Clearwater Paper by 19.2% during the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock worth $15,822,000 after buying an additional 122,688 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clearwater Paper by 33.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock worth $9,708,000 after purchasing an additional 139,013 shares during the period. Towle & Co. grew its position in Clearwater Paper by 12.4% in the 3rd 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 during the last quarter. Millennium Management LLC grew its position in Clearwater Paper by 158.1% in the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after buying an additional 221,029 shares during the last quarter. Finally, Invenomic Capital Management LP increased its stake in Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after buying an additional 169,880 shares during the period. Hedge funds and other institutional investors 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.