Clearwater Paper Corporation (NYSE:CLW)‘s stock had its “hold” rating restated by KeyCorp in a note issued to investors on Thursday.

The analysts wrote, “We are again reducing our estimates for Clearwater Paper (CLW) following its recent negative pre-announcement. We expect some of the pressures that plagued the Company in 3Q17 (pulp and transportation prices are going up and tissue market conditions are quite challenging, among other factors) to persist in 4Q, such that we are significantly reducing our estimates for both quarters. We are reducing our 2018 estimates for the same reason. On our revised estimates, CLW will not be in compliance with its debt covenants beginning in 4Q17. Key Investment Points We are reducing our 3Q17 adj. EBITDA estimate from $43M to $35M and our 4Q17 estimate from $58M to $51M, such that our 2017 estimate is going from $196M to $180M.””

A number of other analysts have also weighed in on CLW. BidaskClub lowered shares of Clearwater Paper Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Royal Bank Of Canada cut their price objective on shares of Clearwater Paper Corporation from $63.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Clearwater Paper Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.00.

Shares of Clearwater Paper Corporation (NYSE:CLW) traded up 0.45% on Thursday, hitting $44.75. 58,965 shares of the stock traded hands. Clearwater Paper Corporation has a one year low of $43.60 and a one year high of $68.40. The stock has a 50 day moving average of $46.60 and a 200 day moving average of $47.79. The company has a market cap of $735.38 million, a PE ratio of 28.85 and a beta of 1.05.

Clearwater Paper Corporation (NYSE:CLW) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08. The firm had revenue of $429.70 million for the quarter, compared to analyst estimates of $439.33 million. Clearwater Paper Corporation had a net margin of 1.49% and a return on equity of 7.74%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. Equities analysts anticipate that Clearwater Paper Corporation will post $2.30 earnings per share for the current year.

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In other Clearwater Paper Corporation news, insider Michael S. Gadd sold 877 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $50.01, for a total transaction of $43,858.77. Following the transaction, the insider now directly owns 19,010 shares of the company’s stock, valued at $950,690.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael S. Gadd sold 1,546 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $50.04, for a total transaction of $77,361.84. Following the transaction, the insider now directly owns 17,464 shares in the company, valued at $873,898.56. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CLW. Dalton Greiner Hartman Maher & Company lifted its holdings in Clearwater Paper Corporation by 3.8% during the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 228,475 shares of the basic materials company’s stock valued at $10,402,000 after purchasing an additional 8,404 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Clearwater Paper Corporation in the fourth quarter worth about $1,256,000. TFS Capital LLC purchased a new position in shares of Clearwater Paper Corporation in the fourth quarter worth about $1,095,000. Lombardia Capital Partners LLC lifted its stake in shares of Clearwater Paper Corporation by 56.9% in the fourth quarter. Lombardia Capital Partners LLC now owns 299,376 shares of the basic materials company’s stock worth $13,631,000 after buying an additional 108,519 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Clearwater Paper Corporation by 42.0% in the fourth quarter. American Century Companies Inc. now owns 84,634 shares of the basic materials company’s stock worth $3,853,000 after buying an additional 25,024 shares in the last quarter. 84.45% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Paper Corporation Company Profile

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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