Clearwater Paper (NYSE:CLW) Given New $42.00 Price Target at Royal Bank of Canada

Clearwater Paper (NYSE:CLW) had its target price hoisted by Royal Bank of Canada from $41.00 to $42.00 in a research report report published on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the basic materials company’s stock.

Separately, StockNews.com lowered shares of Clearwater Paper from a strong-buy rating to a buy rating in a report on Thursday, February 22nd.

Clearwater Paper Price Performance

CLW stock opened at $45.10 on Tuesday. The firm has a 50 day moving average price of $40.45 and a 200-day moving average price of $37.05. Clearwater Paper has a 52-week low of $29.22 and a 52-week high of $47.98. The firm has a market capitalization of $746.86 million, a price-to-earnings ratio of 7.19 and a beta of 0.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.97.

Clearwater Paper (NYSE:CLW) last released its earnings results on Monday, April 29th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.32. Clearwater Paper had a net margin of 5.17% and a return on equity of 18.13%. The firm had revenue of $496.20 million during the quarter. During the same quarter in the previous year, the business posted $1.47 earnings per share.

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds have recently added to or reduced their stakes in CLW. Charles Schwab Investment Management Inc. grew its position in Clearwater Paper by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,719 shares of the basic materials company’s stock worth $11,662,000 after purchasing an additional 14,733 shares during the period. Exchange Traded Concepts LLC bought a new stake in Clearwater Paper in the 4th quarter worth approximately $397,000. New York State Teachers Retirement System grew its position in Clearwater Paper by 2.5% in the 4th quarter. New York State Teachers Retirement System now owns 36,120 shares of the basic materials company’s stock worth $1,305,000 after purchasing an additional 897 shares during the period. Assenagon Asset Management S.A. grew its position in Clearwater Paper by 47.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 153,165 shares of the basic materials company’s stock worth $5,552,000 after purchasing an additional 49,141 shares during the period. Finally, Corton Capital Inc. bought a new stake in Clearwater Paper in the 3rd quarter worth approximately $455,000. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.