Clearwater Paper Corporation (CLW) Receives Average Recommendation of “Hold” from Brokerages
Shares of Clearwater Paper Corporation (NYSE:CLW) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $60.00.
A number of research firms have recently commented on CLW. Zacks Investment Research cut Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub cut Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Royal Bank Of Canada lowered their target price on Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Finally, Vertical Research upgraded Clearwater Paper Corporation from a “hold” rating to a “buy” rating in a research note on Monday, April 24th.
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Shares of Clearwater Paper Corporation (NYSE:CLW) opened at 45.25 on Friday. The company has a market cap of $743.59 million, a P/E ratio of 29.17 and a beta of 1.07. The stock’s 50 day moving average price is $47.05 and its 200 day moving average price is $50.85. Clearwater Paper Corporation has a 12-month low of $43.60 and a 12-month high of $68.40.
Clearwater Paper Corporation (NYSE:CLW) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. The company had revenue of $429.70 million during the quarter, compared to analysts’ expectations of $439.33 million. Clearwater Paper Corporation had a return on equity of 7.74% and a net margin of 1.49%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. On average, analysts forecast that Clearwater Paper Corporation will post $2.64 EPS for the current year.
In related news, insider Michael S. Gadd sold 1,546 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $50.04, for a total transaction of $77,361.84. Following the completion of the transaction, the insider now owns 17,464 shares of the company’s stock, valued at approximately $873,898.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael S. Gadd sold 877 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $50.01, for a total value of $43,858.77. Following 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 owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CLW. Norges Bank bought a new position in Clearwater Paper Corporation during the fourth quarter worth $12,031,000. Dalton Greiner Hartman Maher & Co. raised its stake in Clearwater Paper Corporation by 2.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 282,200 shares of the basic materials company’s stock worth $15,803,000 after buying an additional 6,388 shares during the last quarter. Strs Ohio raised its stake in Clearwater Paper Corporation by 4.2% in the first quarter. Strs Ohio now owns 14,900 shares of the basic materials company’s stock worth $834,000 after buying an additional 600 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Clearwater Paper Corporation during the first quarter worth approximately $328,000. Finally, Great West Life Assurance Co. Can raised its stake in Clearwater Paper Corporation by 2.9% in the first quarter. Great West Life Assurance Co. Can now owns 22,796 shares of the basic materials company’s stock worth $1,275,000 after buying an additional 649 shares during the last quarter. 85.09% of the stock is owned by institutional investors.
About Clearwater Paper Corporation
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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