Brokerages Set Clearwater Paper Corporation (NYSE:CLW) PT at $17.00

Shares of Clearwater Paper Corporation (NYSE:CLW) have earned an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.00.

A number of research firms have weighed in on CLW. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a report on Friday, May 8th. TD Cowen lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Wednesday, April 29th. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and dropped their target price for the company from $19.00 to $17.00 in a research report on Wednesday, April 29th. Truist Financial reiterated a “hold” rating and issued a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada dropped their target price on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th.

Clearwater Paper Stock Down 1.2%

CLW opened at $14.06 on Friday. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $30.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.26 and a current ratio of 2.61. The company has a fifty day moving average of $14.11 and a two-hundred day moving average of $16.33. The stock has a market capitalization of $226.66 million, a price-to-earnings ratio of -9.13 and a beta of 0.21.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.03. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%. The company had revenue of $360.30 million during the quarter, compared to analysts’ expectations of $363.55 million.

Institutional Trading of Clearwater Paper

Institutional investors have recently modified their holdings of the stock. Turtle Creek Asset Management Inc. boosted its position in Clearwater Paper by 26.0% during the first quarter. Turtle Creek Asset Management Inc. now owns 16,000 shares of the basic materials company’s stock worth $230,000 after acquiring an additional 3,300 shares during the last quarter. Bank of America Corp DE boosted its position in Clearwater Paper by 7.3% during the first quarter. Bank of America Corp DE now owns 47,870 shares of the basic materials company’s stock worth $688,000 after acquiring an additional 3,273 shares during the last quarter. Readystate Asset Management LP boosted its position in Clearwater Paper by 2.5% during the first quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock worth $11,236,000 after acquiring an additional 19,246 shares during the last quarter. Quantinno Capital Management LP boosted its position in Clearwater Paper by 134.7% during the first quarter. Quantinno Capital Management LP now owns 51,515 shares of the basic materials company’s stock worth $741,000 after acquiring an additional 29,570 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Clearwater Paper by 107.4% during the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock worth $3,410,000 after acquiring an additional 122,815 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.