Clearwater Paper (NYSE:CLW) Stock Rating Lowered by Wall Street Zen

Clearwater Paper (NYSE:CLW) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

CLW has been the topic of several other research reports. Royal Bank Of Canada cut their price target 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 downgraded Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $17.00 in a report on Wednesday, April 29th. TD Cowen lowered Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Wednesday, April 29th. TD Securities cut Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Clearwater Paper in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

Clearwater Paper Stock Performance

NYSE CLW opened at $16.85 on Friday. The firm has a market cap of $271.64 million, a price-to-earnings ratio of -10.94 and a beta of 0.27. The company has a 50 day moving average of $15.16 and a 200-day moving average of $16.04. 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 has a 1-year low of $11.73 and a 1-year high of $30.96.

Clearwater Paper (NYSE:CLW) last issued its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $363.55 million.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 390 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Clearwater Paper by 34.7% in 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 purchasing an additional 563 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Clearwater Paper by 4.1% during the fourth quarter. Verition Fund Management LLC now owns 15,900 shares of the basic materials company’s stock valued at $277,000 after buying an additional 631 shares during the last quarter. Deutsche Bank AG grew its holdings in Clearwater Paper by 7.0% during the fourth quarter. Deutsche Bank AG now owns 12,319 shares of the basic materials company’s stock worth $214,000 after buying an additional 802 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Clearwater Paper by 10.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,228 shares of the basic materials company’s stock worth $234,000 after buying an additional 1,207 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

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.