Clearwater Paper (NYSE:CLW) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Clearwater Paper Corporation (NYSE:CLW) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.12 and traded as high as $16.38. Clearwater Paper shares last traded at $16.3310, with a volume of 256,325 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLW. Wall Street Zen cut Clearwater Paper from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. TD cut Clearwater Paper from a “buy” rating to a “hold” rating and lowered their price target for the stock from $19.00 to $17.00 in a report on Wednesday, April 29th. Truist Financial reiterated a “hold” rating and set a $12.00 price target (down from $15.00) on shares of Clearwater Paper in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Clearwater Paper in a research report on Friday, May 8th. Finally, TD Cowen cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Stock Up 6.0%

The business has a fifty day moving average of $14.67 and a 200 day moving average of $16.12. The company has a market capitalization of $263.26 million, a PE ratio of -10.60 and a beta of 0.27. The company has a current ratio of 2.61, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44.

Clearwater Paper (NYSE:CLW) last announced its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.03. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%.The company had revenue of $360.30 million during the quarter, compared to analysts’ expectations of $363.55 million.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds and other institutional investors have recently bought and sold shares of CLW. Millennium Management LLC boosted its position in Clearwater Paper by 158.1% in the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after buying an additional 221,029 shares during the period. UBS Group AG boosted its position in Clearwater Paper by 228.3% in the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock valued at $5,360,000 after buying an additional 179,539 shares during the period. Invenomic Capital Management LP boosted its position in Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after buying an additional 169,880 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Clearwater Paper by 33.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after buying an additional 139,013 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Clearwater Paper by 107.4% in the 1st quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock valued at $3,410,000 after buying an additional 122,815 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

About Clearwater Paper

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.