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

Shares of Clearwater Paper Corporation (NYSE:CLW) have received a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.3333.

Several brokerages have commented on CLW. Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday, June 28th. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a report on Wednesday, April 29th. TD Cowen cut Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research note on Friday, May 8th. Finally, TD lowered Clearwater Paper from a “buy” rating to a “hold” rating and reduced their price target for the stock from $19.00 to $17.00 in a research report on Wednesday, April 29th.

Hedge Funds Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently bought and sold shares of CLW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Clearwater Paper by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock worth $244,000 after acquiring an additional 390 shares during the period. Caxton Associates LLP acquired a new position in shares of Clearwater Paper during the first quarter valued at approximately $204,000. Empowered Funds LLC raised its holdings in Clearwater Paper by 3.0% during the first quarter. Empowered Funds LLC now owns 115,315 shares of the basic materials company’s stock worth $2,926,000 after purchasing an additional 3,368 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Clearwater Paper by 93.3% in the second quarter. Russell Investments Group Ltd. now owns 45,171 shares of the basic materials company’s stock worth $1,230,000 after purchasing an additional 21,803 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Clearwater Paper in the second quarter worth approximately $304,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Stock Performance

NYSE CLW traded up $0.38 during trading hours on Friday, hitting $15.77. The company had a trading volume of 88,062 shares, compared to its average volume of 165,545. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week 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 business has a fifty day simple moving average of $15.40 and a 200-day simple moving average of $15.88. The firm has a market cap of $254.15 million, a P/E ratio of -10.24 and a beta of 0.27.

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

About Clearwater Paper

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.