TD Securities Cuts Clearwater Paper (NYSE:CLW) Price Target to $20.00

Clearwater Paper (NYSE:CLW) had its price objective cut by TD Securities from $25.00 to $20.00 in a research report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the basic materials company’s stock.

Several other equities analysts have also commented on CLW. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Wall Street Zen raised Clearwater Paper from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Truist Financial cut their target price on Clearwater Paper from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada decreased their target price on Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.25.

Clearwater Paper Stock Down 0.6%

Shares of NYSE:CLW opened at $15.28 on Thursday. Clearwater Paper has a fifty-two week low of $15.05 and a fifty-two week high of $30.96. The firm’s 50 day moving average price is $18.05 and its 200 day moving average price is $19.23. The company has a quick ratio of 0.88, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. The stock has a market cap of $245.01 million, a price-to-earnings ratio of -13.64 and a beta of 0.20.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%. The company had revenue of $386.40 million for the quarter, compared to the consensus estimate of $379.00 million.

Insider Activity

In related news, VP Steve M. Bowden sold 8,889 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $18.14, for a total value of $161,246.46. Following the completion of the sale, the vice president directly owned 68,516 shares of the company’s stock, valued at $1,242,880.24. This represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Clearwater Paper by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company’s stock worth $244,000 after acquiring an additional 390 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 563 shares during the last quarter. Verition Fund Management LLC increased its position in Clearwater Paper by 4.1% during the 4th quarter. Verition Fund Management LLC now owns 15,900 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 631 shares in the last quarter. Deutsche Bank AG raised its stake in Clearwater Paper by 7.0% in the 4th quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 802 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Clearwater Paper by 2.8% in the 3rd quarter. GSA Capital Partners LLP now owns 34,571 shares of the basic materials company’s stock valued at $718,000 after purchasing an additional 949 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.