Clearwater Paper Corporation (NYSE:CLW) Given Consensus Rating of “Hold” by Brokerages

Clearwater Paper Corporation (NYSE:CLW) has been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.00.

Several equities analysts recently commented on CLW shares. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a research note on Wednesday, April 29th. TD downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and dropped their price objective for the company from $19.00 to $17.00 in a research note on Wednesday, April 29th. TD Cowen downgraded Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Clearwater Paper in a research report on Friday, May 8th. Finally, TD Securities downgraded Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds have recently made changes to their positions in the stock. Readystate Asset Management LP raised its position in shares of 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. Charles Schwab Investment Management Inc. raised its position 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 acquiring an additional 139,013 shares during the last quarter. Towle & Co. raised its stake in Clearwater Paper by 12.4% during the third quarter. Towle & Co. now owns 366,798 shares of the basic materials company’s stock worth $7,615,000 after buying an additional 40,575 shares during the last quarter. Millennium Management LLC raised its stake in Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after buying an additional 221,029 shares during the last quarter. Finally, Invenomic Capital Management LP raised its stake in Clearwater Paper by 113.0% during the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after buying an additional 169,880 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Price Performance

Shares of CLW stock opened at $16.33 on Wednesday. The company has a market cap of $263.26 million, a P/E ratio of -10.60 and a beta of 0.27. 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 business has a fifty day simple moving average of $14.67 and a 200 day simple moving average of $16.12. Clearwater Paper has a twelve month low of $11.73 and a twelve month high of $30.96.

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

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.