Zacks Investment Research Upgrades Clearwater Paper (CLW) to Hold
Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “
Separately, KeyCorp reissued a “hold” rating on shares of Clearwater Paper in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $60.00.
Clearwater Paper (NYSE:CLW) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.18. The business had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.87 million. Clearwater Paper had a return on equity of 7.38% and a net margin of 1.50%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. research analysts predict that Clearwater Paper will post 2.22 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its position in shares of Clearwater Paper by 80.3% during the second quarter. Riverhead Capital Management LLC now owns 2,164 shares of the basic materials company’s stock worth $101,000 after buying an additional 964 shares during the period. Victory Capital Management Inc. boosted its position in shares of Clearwater Paper by 17.6% during 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. Public Employees Retirement System of Ohio boosted its position in shares of Clearwater Paper by 17.2% during the second quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock worth $134,000 after buying an additional 420 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Clearwater Paper by 77.3% during 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. Finally, SG Americas Securities LLC bought a new stake in Clearwater Paper during the third quarter worth approximately $182,000. Institutional investors and hedge funds own 86.21% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/12/05/zacks-investment-research-upgrades-clearwater-paper-clw-to-hold.html.
Clearwater Paper 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clearwater Paper Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Paper Corporation and related companies with MarketBeat.com's FREE daily email newsletter.