Clearwater Paper (NYSE:CLW) Rating Increased to Hold at Zacks Research

Clearwater Paper (NYSE:CLW) was upgraded by Zacks Research to a “hold” rating in a research report issued on Monday,Zacks.com reports.

CLW has been the topic of several other reports. Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th. Royal Bank Of Canada lowered their price target on Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. TD Securities lowered Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Bank of America started coverage on Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.33.

Clearwater Paper Trading Down 1.0%

Shares of NYSE CLW opened at $15.71 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. Clearwater Paper has a 12 month low of $11.73 and a 12 month high of $30.96. The company has a market cap of $253.18 million, a price-to-earnings ratio of -10.20 and a beta of 0.27. The business has a fifty day simple moving average of $15.32 and a 200-day simple moving average of $15.93.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.03. The firm had revenue of $360.30 million for the quarter, compared to analysts’ expectations of $363.55 million. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%. Sell-side analysts predict that Clearwater Paper will post -3.41 EPS for the current year.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Clearwater Paper by 70.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 87,377 shares of the basic materials company’s stock valued at $1,814,000 after purchasing an additional 36,113 shares during the period. Invenomic Capital Management LP bought a new stake in shares of Clearwater Paper in the 3rd quarter valued at about $3,121,000. BNP Paribas Financial Markets increased its position in shares of Clearwater Paper by 608.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock valued at $179,000 after buying an additional 5,656 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 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 buying an additional 563 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Clearwater Paper during the fourth quarter worth $47,000. 89.98% of the stock is owned by institutional investors and hedge funds.

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.