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

Clearwater Paper Corporation (NYSE:CLW) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.50.

A number of analysts have weighed in on CLW shares. TD downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and reduced their price target for the company from $19.00 to $17.00 in a report on Wednesday, April 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 target price on shares of Clearwater Paper in a report on Wednesday, July 29th. Truist Financial increased their price objective on shares of Clearwater Paper from $12.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Bank of America started coverage on shares of Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, TD Cowen lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research note on Wednesday, April 29th.

Institutional Investors Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Clearwater Paper by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 390 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Clearwater Paper in the first quarter worth $204,000. Empowered Funds LLC grew its holdings in Clearwater Paper by 3.0% during the 1st quarter. Empowered Funds LLC now owns 115,315 shares of the basic materials company’s stock valued at $2,926,000 after buying an additional 3,368 shares in the last quarter. Russell Investments Group Ltd. raised its position in Clearwater Paper by 93.3% in the 2nd 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 bought a new stake in shares of Clearwater Paper in the second quarter valued at about $304,000. 89.98% of the stock is currently owned by institutional investors.

Clearwater Paper Price Performance

Shares of NYSE:CLW opened at $21.64 on Monday. The company’s fifty day moving average is $18.27 and its two-hundred day moving average is $16.12. 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 has a 12-month low of $11.73 and a 12-month high of $23.59. The company has a market cap of $349.05 million, a P/E ratio of -7.12 and a beta of 0.24.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.26). The firm had revenue of $374.80 million for the quarter, compared to analysts’ expectations of $374.80 million. Clearwater Paper had a negative return on equity of 7.95% and a negative net margin of 3.24%. Equities analysts expect that Clearwater Paper will post -2.95 earnings per share for the current fiscal 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.