Clearwater Paper (NYSE:CLW) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Clearwater Paper (NYSE:CLW) in a research note issued on Thursday,Benzinga reports. The brokerage set a “neutral” rating and a $19.00 price target on the basic materials company’s stock. Bank of America‘s target price would indicate a potential upside of 16.00% from the company’s previous close.

Several other equities analysts also recently issued reports on CLW. TD Securities downgraded shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Sunday. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price target for the company from $19.00 to $17.00 in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, TD Cowen cut Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Clearwater Paper has an average rating of “Hold” and a consensus target price of $17.33.

Clearwater Paper Price Performance

Shares of NYSE CLW opened at $16.38 on Thursday. The firm has a market cap of $264.05 million, a P/E ratio of -10.32 and a beta of 0.27. Clearwater Paper has a twelve month low of $11.73 and a twelve month high of $30.96. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $15.21 and a 200 day moving average of $15.99.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLW. Tower Research Capital LLC TRC boosted its position in shares of Clearwater Paper by 34.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 563 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Clearwater Paper in the 4th quarter valued at about $47,000. Group One Trading LLC lifted its stake in shares of Clearwater Paper by 184.4% in the first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 2,316 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Clearwater Paper by 608.8% in the second quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 5,656 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Clearwater Paper during the first quarter worth about $204,000. 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.