Clearwater Paper (NYSE:CLW) Stock Gets Price Target Trim from Truist Financial

Clearwater Paper (NYSE:CLW) had its price target decreased by Truist Financial from $20.00 to $17.00 in a research note released on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on CLW. Royal Bank Of Canada lowered their price objective on shares of Clearwater Paper from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America boosted their price objective on shares of Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. TD Securities reaffirmed a “hold” rating and issued a $20.00 target price on shares of Clearwater Paper in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Clearwater Paper to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.67.

Clearwater Paper Trading Down 1.1%

NYSE:CLW opened at $13.01 on Tuesday. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $23.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 1.17. The stock has a market capitalization of $209.93 million, a PE ratio of 81.29 and a beta of 0.33. The business’s 50-day simple moving average is $19.77 and its 200-day simple moving average is $17.17.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Monday, October 26th. The basic materials company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Clearwater Paper had a negative return on equity of 7.36% and a net margin of 0.16%. The company had revenue of $384.90 million for the quarter, compared to analyst estimates of $388.39 million. Sell-side analysts expect that Clearwater Paper will post -2.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Clearwater Paper in the 2nd quarter valued at $19,788,000. Man Group plc acquired a new position in shares of Clearwater Paper during the 2nd quarter worth about $2,986,000. Renaissance Technologies LLC boosted its stake in shares of Clearwater Paper by 107.4% during the 1st quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock worth $3,410,000 after buying an additional 122,815 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Clearwater Paper in the 2nd quarter valued at about $1,303,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Clearwater Paper in the 2nd quarter valued at about $1,014,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation’s pulp and paperboard businesses.