Truist Financial Lowers Clearwater Paper (NYSE:CLW) Price Target to $15.00

Clearwater Paper (NYSE:CLW) had its target price cut by analysts at Truist Financial from $16.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. Truist Financial’s target price would suggest a potential downside of 0.70% from the company’s previous close.

Several other analysts also recently weighed in on CLW. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. TD Securities decreased their target price on Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Royal Bank Of Canada decreased their target price 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. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.00.

Clearwater Paper Trading Down 2.8%

Shares of NYSE:CLW traded down $0.44 on Wednesday, hitting $15.11. 10,595 shares of the company’s stock were exchanged, compared to its average volume of 221,341. Clearwater Paper has a 12 month low of $12.44 and a 12 month high of $30.96. The stock has a market capitalization of $242.28 million, a price-to-earnings ratio of -13.49 and a beta of 0.22. The business’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $17.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 1.13.

Clearwater Paper (NYSE:CLW) last released its earnings results on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $379.00 million.

Hedge Funds Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. purchased a new position in Clearwater Paper in the third quarter valued at about $44,000. Meeder Asset Management Inc. purchased a new position in Clearwater Paper in the fourth quarter valued at about $47,000. Tower Research Capital LLC TRC grew its stake in Clearwater Paper by 34.7% in the second 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. SG Americas Securities LLC purchased a new stake in shares of Clearwater Paper during the third quarter worth about $114,000. Finally, New York State Common Retirement Fund grew its stake in shares of Clearwater Paper by 104.9% during the third quarter. New York State Common Retirement Fund now owns 6,838 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 3,500 shares during the last quarter. 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.