Clearwater Paper (NYSE:CLW) Price Target Raised to $17.00 at Truist Financial

Clearwater Paper (NYSE:CLW) had its price target increased by Truist Financial from $12.00 to $17.00 in a report released on Wednesday, MarketBeat reports. They currently have a hold rating on the basic materials company’s stock.

Several other research firms have also recently commented on CLW. Zacks Research upgraded Clearwater Paper to a “hold” rating in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price on Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. TD lowered Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price target for the company from $19.00 to $17.00 in a research note on Wednesday, April 29th. TD Cowen cut Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research report on Wednesday, April 29th. Finally, TD Securities lowered Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Clearwater Paper currently has a consensus rating of “Hold” and a consensus target price of $18.17.

Clearwater Paper Stock Performance

Shares of NYSE:CLW opened at $15.47 on Wednesday. The business’s 50-day simple moving average is $15.48 and its 200 day simple moving average is $15.81. Clearwater Paper has a one year low of $11.73 and a one year 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. The company has a market cap of $249.44 million, a P/E ratio of -10.05 and a beta of 0.27.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.03. The firm had revenue of $360.30 million for the quarter, compared to analyst estimates of $363.55 million. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%. On average, sell-side analysts forecast that Clearwater Paper will post -3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLW. Meeder Asset Management Inc. purchased a new stake in shares of Clearwater Paper in the fourth quarter worth approximately $47,000. Group One Trading LLC boosted its holdings in Clearwater Paper by 184.4% in the first quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,316 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 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 buying an additional 563 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Clearwater Paper by 26.4% during the 2nd quarter. Versant Capital Management Inc now owns 4,627 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 965 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Clearwater Paper by 608.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 5,656 shares during the last quarter. Institutional investors and hedge funds 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.