Clearwater Paper (NYSE:CLW) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Clearwater Paper Corporation (NYSE:CLW) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $17.44 and traded as high as $18.97. Clearwater Paper shares last traded at $18.70, with a volume of 68,418 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLW. Wall Street Zen downgraded Clearwater Paper from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. Truist Financial raised their price target on Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Zacks Research raised Clearwater Paper to a “hold” rating in a research report on Monday, July 6th. TD Securities reiterated a “hold” rating and issued a $20.00 price target on shares of Clearwater Paper in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Clearwater Paper in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Clearwater Paper Price Performance

The firm’s fifty day moving average price is $20.82 and its two-hundred day moving average price is $17.48. The stock has a market capitalization of $297.70 million, a PE ratio of -6.07 and a beta of 0.33. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $374.80 million during the quarter, compared to analysts’ expectations of $374.80 million. On average, equities analysts predict that Clearwater Paper Corporation will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On Clearwater Paper

A number of hedge funds have recently modified their holdings of CLW. Group One Trading LLC acquired a new position in shares of Clearwater Paper in the second quarter worth about $25,000. Quantbot Technologies LP acquired a new stake in shares of Clearwater Paper during the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC grew its position in shares of Clearwater Paper by 110.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,069 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 1,087 shares during the period. Versant Capital Management Inc grew its position in shares of Clearwater Paper by 26.4% during the 2nd quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock valued at $73,000 after acquiring an additional 965 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Clearwater Paper in the 2nd quarter valued at about $210,000. Institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation (NYSE: CLW) is a manufacturer of bleached paperboard products serving customers primarily in North America. Its paperboard is used in a range of consumer and commercial applications, including folding cartons, food and beverage packaging, liquid packaging, pharmaceutical packaging, and personal care products.

The company operates paperboard manufacturing facilities in the United States and supplies products to packaging converters, brand owners, and other industrial customers.