DA Davidson Reiterates Buy Rating for Clearwater Paper Corp. (CLW)
Clearwater Paper Corp. (NYSE:CLW)‘s stock had its “buy” rating restated by equities researchers at DA Davidson in a research report issued on Friday, StockRatingsNetwork.com reports. They currently have a $60.00 price target on the stock, down from their previous price target of $64.00. DA Davidson’s price objective indicates a potential upside of 26.34% from the company’s current price.
The analysts wrote, “The biggest fear surrounding Clearwater’s TAD tissue expansion at Shelby, N.C. appears to be materializing, as the acceptance and sell through of the new capacity is going slower than originally anticipated. When the new capacity was announced (before Shelby was chosen as the site) we indicated that ‘new machine’ was a ‘four letter word’, and this fear was exacerbated by similar moves by other East Coast competitors. While we grew more comfortable with the strategy as it became clear that Clearwater’s major customers (the grocers) needed a ‘Charmin knockoff’, we also postulated that the consumer’s posterior (and wallet) might be the real beneficiary of the tissue expansion orgy. Indeed this appears to be the case.”
Separately, analysts at Zacks upgraded shares of Clearwater Paper Corp. (NYSE:CLW) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, June 25th. They now have a $48.10 price target on the stock.
Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Clearwater Paper Corp. presently has a consensus rating of “Buy” and an average price target of $55.22.
Shares of Clearwater Paper Corp. (NYSE:CLW) traded down 1.35% during mid-day trading on Friday, hitting $46.85. The stock had a trading volume of 157,904 shares. Clearwater Paper Corp. has a 52-week low of $37.33 and a 52-week high of $53.01. The stock has a 50-day moving average of $48. and a 200-day moving average of $48.60. The company has a market cap of $1.030 billion and a price-to-earnings ratio of 22.19.
Clearwater Paper Corp. (NYSE:CLW) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.69 by $0.18. The company had revenue of $471.00 million for the quarter, compared to the consensus estimate of $476.57 million. During the same quarter last year, the company posted $0.91 earnings per share. Clearwater Paper Corp.’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Clearwater Paper Corp. will post $2.17 earnings per share for the current fiscal year.
Clearwater Paper Corporation is a producer of private label tissue and paperboard products. The Company manufactures consumer tissue, away-from-home tissue (NYSE:CLW), parent rolls machine-glazed tissue, bleached paperboard and pulp at 15 manufacturing locations in the United States and Canada.
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