Clearwater Paper (NYSE:CLW) Shares Pass Above 200-Day Moving Average – Time to Sell?

Clearwater Paper Corporation (NYSE:CLW)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.10 and traded as high as $17.64. Clearwater Paper shares last traded at $16.75, with a volume of 262,811 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on CLW shares. Truist Financial reiterated a “hold” rating and set a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday, April 29th. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and reduced their target price for the company from $19.00 to $17.00 in a report on Wednesday, April 29th. TD Cowen cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Trading Down 3.6%

The business’s fifty day moving average is $14.96 and its 200-day moving average is $16.10. The stock has a market capitalization of $270.09 million, a PE ratio of -10.88 and a beta of 0.27. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44.

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

Hedge Funds Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently modified their holdings of CLW. Optiver Holding B.V. acquired a new stake in Clearwater Paper during the 3rd quarter worth approximately $44,000. Tower Research Capital LLC TRC raised its stake 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 valued at $60,000 after acquiring an additional 563 shares during the period. Meeder Asset Management Inc. purchased a new stake in Clearwater Paper during the 4th quarter worth $47,000. Group One Trading LLC increased its holdings in Clearwater Paper by 184.4% in the 1st quarter. Group One Trading LLC now owns 3,572 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 2,316 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Clearwater Paper by 608.8% during the second 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 in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

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.