Clearwater Paper Corp (CLW) PT Lowered to $60.00
Clearwater Paper Corp (NYSE:CLW) had its price objective dropped by Royal Bank Of Canada from $63.00 to $60.00 in a research report issued on Friday. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 33.04% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Clearwater Paper Corp from a “strong sell” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, June 21st. Vertical Research raised shares of Clearwater Paper Corp from a “hold” rating to a “buy” rating in a research report on Monday, April 24th. Finally, BidaskClub cut shares of Clearwater Paper Corp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.50.
Shares of Clearwater Paper Corp (CLW) traded up 1.44% during midday trading on Friday, hitting $45.75. 5,888 shares of the company were exchanged. The company has a market capitalization of $752.91 million, a P/E ratio of 29.50 and a beta of 1.07. Clearwater Paper Corp has a one year low of $43.60 and a one year high of $68.40. The company has a 50-day moving average of $46.83 and a 200 day moving average of $52.14.
Clearwater Paper Corp (NYSE:CLW) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Clearwater Paper Corp had a net margin of 1.87% and a return on equity of 6.74%. The business had revenue of $429.70 million during the quarter, compared to analysts’ expectations of $439.33 million. During the same quarter in the prior year, the business posted $1.37 earnings per share. Clearwater Paper Corp’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Clearwater Paper Corp will post $2.75 earnings per share for the current fiscal year.
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In other news, insider Michael S. Gadd sold 1,546 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $50.04, for a total value of $77,361.84. Following the completion of the transaction, the insider now owns 17,464 shares of the company’s stock, valued at $873,898.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael S. Gadd sold 877 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $50.01, for a total transaction of $43,858.77. Following the completion of the transaction, the insider now directly owns 19,010 shares of the company’s stock, valued at approximately $950,690.10. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Clearwater Paper Corp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock worth $119,000 after buying an additional 380 shares during the period. State of Alaska Department of Revenue boosted its position in Clearwater Paper Corp by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 3,226 shares of the basic materials company’s stock worth $150,000 after buying an additional 1,406 shares during the period. ClariVest Asset Management LLC bought a new position in Clearwater Paper Corp during the first quarter worth approximately $162,000. US Bancorp DE boosted its position in Clearwater Paper Corp by 1.0% in the first quarter. US Bancorp DE now owns 3,714 shares of the basic materials company’s stock worth $208,000 after buying an additional 35 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Clearwater Paper Corp by 5.4% in the first quarter. Mason Street Advisors LLC now owns 3,850 shares of the basic materials company’s stock worth $216,000 after buying an additional 196 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.
About Clearwater Paper Corp
Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.
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