Wall Street Zen Downgrades Clearwater Paper (NYSE:CLW) to Sell

Clearwater Paper (NYSE:CLW) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CLW has been the subject of a number of other reports. TD Cowen lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research note on Wednesday. Royal Bank Of Canada lowered their target price on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and lowered their target price for the company from $19.00 to $17.00 in a research note on Wednesday, April 29th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a research note on Wednesday, April 29th. Finally, TD Securities lowered shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Clearwater Paper presently has a consensus rating of “Hold” and an average target price of $17.00.

Clearwater Paper Stock Down 0.1%

Shares of CLW opened at $13.31 on Friday. The firm has a market capitalization of $214.56 million, a P/E ratio of -8.64 and a beta of 0.21. Clearwater Paper has a 12-month low of $11.73 and a 12-month high of $30.96. The company has a current ratio of 2.61, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $14.36 and a 200-day moving average price of $16.84.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.03. The firm 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%.

Institutional Trading of Clearwater Paper

Hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. purchased a new stake in Clearwater Paper in the third quarter worth about $44,000. Tower Research Capital LLC TRC lifted its stake 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 worth $60,000 after acquiring an additional 563 shares during the period. Meeder Asset Management Inc. purchased a new stake in Clearwater Paper in the fourth quarter worth about $47,000. SG Americas Securities LLC purchased a new stake in Clearwater Paper in the third quarter worth about $114,000. Finally, BNP Paribas Financial Markets lifted its stake in Clearwater Paper by 608.8% in the second quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after acquiring an additional 5,656 shares during the period. 89.98% of the stock is owned by hedge funds and other institutional investors.

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.