Clearwater Paper (NYSE:CLW) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Clearwater Paper Corporation (NYSE:CLW) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.12 and traded as high as $16.38. Clearwater Paper shares last traded at $16.3310, with a volume of 256,325 shares traded.

Analyst Upgrades and Downgrades

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

Clearwater Paper Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.26 and a current ratio of 2.61. The firm’s 50 day simple moving average is $14.77 and its 200 day simple moving average is $16.11. The firm has a market capitalization of $268.38 million, a price-to-earnings ratio of -10.81 and a beta of 0.27.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data 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 net margin of 1.63% and a negative return on equity of 3.94%. The business had revenue of $360.30 million during the quarter, compared to analysts’ expectations of $363.55 million.

Institutional Investors Weigh In On Clearwater Paper

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Clearwater Paper by 4.2% during the 1st 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. Caxton Associates LLP acquired a new stake in shares of Clearwater Paper during the first quarter worth $204,000. Empowered Funds LLC increased its position in shares of Clearwater Paper by 3.0% in the first quarter. Empowered Funds LLC now owns 115,315 shares of the basic materials company’s stock valued at $2,926,000 after buying an additional 3,368 shares in the last quarter. Russell Investments Group Ltd. increased its position in Clearwater Paper by 93.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 45,171 shares of the basic materials company’s stock worth $1,230,000 after purchasing an additional 21,803 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Clearwater Paper during the 2nd quarter worth about $304,000. 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.