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

Shares of Clearwater Paper Corporation (NYSE:CLW) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.50.

CLW has been the subject of several recent analyst reports. TD Securities restated a “hold” rating and set a $20.00 price objective on shares of Clearwater Paper in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th. Zacks Research upgraded shares of Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a report on Wednesday, August 5th. Finally, Truist Financial boosted their target price on Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, July 15th.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds have recently modified their holdings of CLW. Group One Trading LLC purchased a new stake in Clearwater Paper during the 2nd quarter valued at approximately $25,000. Quantbot Technologies LP purchased a new position in shares of Clearwater Paper in the 2nd quarter valued at approximately $27,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 period. Meeder Asset Management Inc. purchased a new stake in shares of Clearwater Paper during the fourth quarter worth approximately $47,000. Finally, California State Teachers Retirement System raised its stake in shares of Clearwater Paper by 305.0% during the second quarter. California State Teachers Retirement System now owns 3,418 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 2,574 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Stock Down 0.3%

Shares of NYSE:CLW opened at $20.76 on Monday. The firm has a market capitalization of $334.86 million, a PE ratio of -6.83 and a beta of 0.24. Clearwater Paper has a 1 year low of $11.73 and a 1 year high of $23.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.17. The firm’s 50-day moving average is $18.70 and its two-hundred day moving average is $16.25.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.26). Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%.The company had revenue of $374.80 million for the quarter, compared to analyst estimates of $374.80 million. Analysts predict that Clearwater Paper will post -2.95 EPS for the current year.

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.