Clearwater Paper Corp. (CLW) Set to Announce Earnings on Thursday
Clearwater Paper Corp. (NYSE:CLW) will be issuing its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $0.21 per share and revenue of $432.47 million for the quarter.
Shares of Clearwater Paper Corp. (NYSE:CLW) opened at 64.98 on Wednesday. The firm has a 50-day moving average of $63.40 and a 200 day moving average of $61.27. Clearwater Paper Corp. has a 52-week low of $32.00 and a 52-week high of $69.75. The stock has a market capitalization of $1.10 billion, a PE ratio of 15.68 and a beta of 0.68.
In other Clearwater Paper Corp. news, insider John Hertz sold 4,725 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $62.52, for a total transaction of $295,407.00. Following the sale, the insider now directly owns 30,972 shares in the company, valued at approximately $1,936,369.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.
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Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Clearwater Paper Corp. by 63.2% in the second quarter. AQR Capital Management LLC now owns 23,171 shares of the company’s stock valued at $1,515,000 after buying an additional 8,976 shares in the last quarter. Paloma Partners Management Co raised its stake in Clearwater Paper Corp. by 17.4% in the second quarter. Paloma Partners Management Co now owns 16,605 shares of the company’s stock valued at $1,085,000 after buying an additional 2,464 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Clearwater Paper Corp. by 175.2% in the second quarter. Panagora Asset Management Inc. now owns 58,908 shares of the company’s stock valued at $3,851,000 after buying an additional 37,500 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Clearwater Paper Corp. during the second quarter valued at approximately $445,000. Finally, A.R.T. Advisors LLC acquired a new stake in Clearwater Paper Corp. during the second quarter valued at approximately $1,129,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
CLW has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Clearwater Paper Corp. from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, July 25th. Sidoti initiated coverage on shares of Clearwater Paper Corp. in a research report on Wednesday, June 22nd. They set a “buy” rating and a $80.00 price objective for the company. Vertical Research cut shares of Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Vertical Group cut shares of Clearwater Paper Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, RBC Capital Markets restated a “sector perform” rating and set a $60.00 price objective (up from $56.00) on shares of Clearwater Paper Corp. in a research report on Sunday, July 24th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.17.
Clearwater Paper Corp. Company Profile
Clearwater Paper Corporation manufactures quality consumer tissue, away-from-home (AFH), tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company is a supplier of private label tissue to retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores.
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