Wall Street Zen Upgrades Clearwater Paper (NYSE:CLW) to “Hold”

by · The Markets Daily

Wall Street Zen upgraded shares of Clearwater Paper (NYSE:CLW – Free Report) from a sell rating to a hold rating in a research note issued to investors on Monday.

Separately, Royal Bank Of Canada dropped their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $36.00.

Read Our Latest Research Report on Clearwater Paper

Clearwater Paper Stock Performance

NYSE CLW opened at $21.53 on Monday. The firm has a 50-day moving average of $23.98 and a 200-day moving average of $25.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97. The stock has a market cap of $346.63 million, a PE ratio of 1.79 and a beta of 0.12. Clearwater Paper has a 52-week low of $20.84 and a 52-week high of $33.56.

Clearwater Paper (NYSE:CLW – Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.51). Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.The business had revenue of $391.80 million during the quarter, compared to analyst estimates of $397.00 million.

Hedge Funds Weigh In On Clearwater Paper

Several hedge funds have recently bought and sold shares of CLW. Nuveen LLC bought a new position in Clearwater Paper in the 1st quarter valued at about $15,314,000. Millennium Management LLC increased its holdings in Clearwater Paper by 1,102.7% in the 4th quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company’s stock valued at $12,779,000 after buying an additional 393,572 shares during the period. CenterBook Partners LP bought a new position in Clearwater Paper in the 1st quarter valued at about $6,029,000. Readystate Asset Management LP increased its holdings in Clearwater Paper by 56.7% in the 1st quarter. Readystate Asset Management LP now owns 580,856 shares of the basic materials company’s stock valued at $14,736,000 after buying an additional 210,141 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in Clearwater Paper by 125.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 189,558 shares of the basic materials company’s stock valued at $5,164,000 after buying an additional 105,645 shares during the period. 89.98% of the stock is owned by institutional investors.

About Clearwater Paper

(Get Free Report)

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.

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