Brokerages Set Clearwater Paper Corporation (NYSE:CLW) Price Target at $17.00

Clearwater Paper Corporation (NYSE:CLW) has been given an average recommendation of “Hold” by the six analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Clearwater Paper in a research note on Friday, May 8th. TD Securities downgraded shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. TD downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $17.00 in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada decreased their price objective on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Clearwater Paper by 70.4% in the third quarter. JPMorgan Chase & Co. now owns 87,377 shares of the basic materials company’s stock valued at $1,814,000 after purchasing an additional 36,113 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Clearwater Paper during the 3rd quarter worth about $3,121,000. Peapod Lane Capital LLC raised its position in shares of Clearwater Paper by 177.8% during the 3rd quarter. Peapod Lane Capital LLC now owns 165,388 shares of the basic materials company’s stock worth $3,433,000 after purchasing an additional 105,850 shares during the last quarter. Readystate Asset Management LP raised its position in shares of Clearwater Paper by 19.2% during the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock worth $15,822,000 after purchasing an additional 122,688 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its position in shares of Clearwater Paper by 39.4% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 232,253 shares of the basic materials company’s stock worth $4,822,000 after purchasing an additional 65,644 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Clearwater Paper Stock Performance

NYSE CLW opened at $17.64 on Wednesday. The stock has a 50-day simple moving average of $14.83 and a two-hundred day simple moving average of $16.12. The firm has a market capitalization of $284.34 million, a P/E ratio of -11.45 and a beta of 0.27. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $30.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.26 and a current ratio of 2.61.

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

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.