Clearwater Paper (CLW) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Clearwater Paper (NYSE:CLW) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “

CLW has been the topic of a number of other reports. ValuEngine lowered shares of Clearwater Paper from a hold rating to a sell rating in a research note on Monday, February 25th. DA Davidson dropped their price target on shares of Clearwater Paper to $44.00 and set a buy rating on the stock in a research note on Thursday, March 14th. TheStreet lowered shares of Clearwater Paper from a c rating to a d rating in a research note on Wednesday, March 13th. Royal Bank of Canada dropped their price target on shares of Clearwater Paper from $24.00 to $22.00 and set a sector perform rating on the stock in a research note on Thursday, May 2nd. Finally, KeyCorp reiterated a hold rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $32.67.

Shares of NYSE:CLW opened at $18.09 on Tuesday. Clearwater Paper has a one year low of $17.19 and a one year high of $35.27. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.39. The stock has a market capitalization of $298.67 million, a PE ratio of 7.09 and a beta of 1.74.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.10). Clearwater Paper had a positive return on equity of 7.76% and a negative net margin of 8.31%. The firm had revenue of $428.78 million for the quarter, compared to analyst estimates of $422.99 million. As a group, sell-side analysts predict that Clearwater Paper will post -0.3 EPS for the current year.

In other news, insider Linda K. Massman purchased 5,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $17.92 per share, for a total transaction of $98,560.00. Following the completion of the purchase, the insider now directly owns 243,976 shares in the company, valued at approximately $4,372,049.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.97% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new position in Clearwater Paper during the first quarter worth about $39,000. Investors Research Corp acquired a new position in Clearwater Paper during the first quarter worth about $66,000. BNP Paribas Arbitrage SA grew its position in Clearwater Paper by 78.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,428 shares of the basic materials company’s stock worth $86,000 after buying an additional 1,940 shares during the period. Public Employees Retirement System of Ohio grew its position in Clearwater Paper by 8.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,440 shares of the basic materials company’s stock worth $108,000 after buying an additional 337 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in Clearwater Paper by 390.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,726 shares of the basic materials company’s stock worth $140,000 after buying an additional 4,558 shares during the period. Institutional investors own 86.14% of the company’s stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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