Clearwater Paper’s (CLW) “Hold” Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Clearwater Paper (NYSE:CLW) in a research report released on Wednesday, MarketBeat Ratings reports. Truist Financial currently has a $12.00 price target on the basic materials company’s stock, down from their prior price target of $15.00.

A number of other research analysts have also recently commented on the stock. TD Securities reduced their target price on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. TD Cowen cut shares of 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. Finally, Royal Bank Of Canada set a $20.00 target price on shares of Clearwater Paper in a research report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Clearwater Paper has an average rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Stock Down 2.9%

NYSE:CLW traded down $0.40 during mid-day trading on Wednesday, hitting $13.31. The company had a trading volume of 201,303 shares, compared to its average volume of 176,010. The business has a fifty day simple moving average of $14.36 and a 200-day simple moving average of $16.87. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Clearwater Paper has a 1 year low of $11.73 and a 1 year high of $30.96. The firm has a market capitalization of $214.56 million, a price-to-earnings ratio of -8.64 and a beta of 0.21.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.03. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%. The business had revenue of $360.30 million for the quarter, compared to analysts’ expectations of $363.55 million.

Institutional Trading of Clearwater Paper

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in Clearwater Paper by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 563 shares in the last quarter. Verition Fund Management LLC raised its holdings in Clearwater Paper by 4.1% in the fourth quarter. Verition Fund Management LLC now owns 15,900 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 631 shares in the last quarter. Deutsche Bank AG raised its holdings in Clearwater Paper by 7.0% in the fourth quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company’s stock valued at $214,000 after acquiring an additional 802 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Clearwater Paper by 2.8% in the third quarter. GSA Capital Partners LLP now owns 34,571 shares of the basic materials company’s stock valued at $718,000 after acquiring an additional 949 shares in the last quarter. 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.