Truist Financial Begins Coverage on Clearwater Paper (NYSE:CLW)

Stock analysts at Truist Financial assumed coverage on shares of Clearwater Paper (NYSE:CLW) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “hold” rating and a $21.00 price target on the basic materials company’s stock. Truist Financial’s target price would indicate a potential upside of 14.85% from the company’s current price.

Several other research firms have also weighed in on CLW. TD Securities set a $30.00 price objective on shares of Clearwater Paper and gave the company a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Royal Bank Of Canada decreased their price target on shares of Clearwater Paper from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. TD Cowen began coverage on shares of Clearwater Paper in a report on Monday, September 22nd. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Clearwater Paper from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.75.

Clearwater Paper Stock Performance

CLW stock opened at $18.29 on Tuesday. The firm has a market cap of $293.29 million, a PE ratio of 2.18 and a beta of 0.20. The company has a current ratio of 2.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $18.28 and a 200-day moving average price of $20.86. Clearwater Paper has a 1-year low of $16.44 and a 1-year high of $33.56.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, October 28th. The basic materials company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.02. The business had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $387.86 million. Clearwater Paper had a negative return on equity of 3.65% and a net margin of 9.14%.

Insider Activity

In other news, VP Steve M. Bowden sold 8,889 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $18.14, for a total transaction 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 trade represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Clearwater Paper

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 period. Woodmont Investment Counsel LLC increased its stake in shares of Clearwater Paper by 1.3% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 40,170 shares of the basic materials company’s stock worth $1,094,000 after purchasing an additional 500 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Clearwater Paper by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 563 shares during the period. SummerHaven Investment Management LLC lifted its stake in Clearwater Paper by 3.3% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 567 shares during the last quarter. Finally, Significant Wealth Partners LLC lifted its stake in Clearwater Paper by 5.7% in the second quarter. Significant Wealth Partners LLC now owns 12,639 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 686 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.