Clearwater Paper (NYSE:CLW) Price Target Raised to $17.00

Clearwater Paper (NYSE:CLW) had its price target upped by Truist Financial from $12.00 to $17.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. Truist Financial currently has a hold rating on the basic materials company’s stock.

Several other brokerages have also issued reports on CLW. Zacks Research upgraded shares of Clearwater Paper to a “hold” rating in a research note on Monday, July 6th. Bank of America initiated coverage on shares of Clearwater Paper in a research note on Thursday, July 2nd. They set a “buy” rating and a $19.00 price objective on the stock. TD Cowen cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a report on Wednesday, April 29th. TD downgraded shares of Clearwater Paper from a “buy” rating to a “hold” rating and decreased their target price for the company from $19.00 to $17.00 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 report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.17.

Clearwater Paper Price Performance

CLW opened at $15.97 on Wednesday. The stock has a fifty day simple moving average of $15.58 and a two-hundred day simple moving average of $15.79. The company has a current ratio of 2.61, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $257.42 million, a price-to-earnings ratio of -10.37 and a beta of 0.27. Clearwater Paper has a 12-month low of $11.73 and a 12-month high of $30.96.

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 return on equity of 3.94% and a negative net margin of 1.63%.The business had revenue of $360.30 million during the quarter, compared to analyst estimates of $363.55 million. Research analysts predict that Clearwater Paper will post -3.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearwater Paper

Several large investors have recently modified their holdings of CLW. JPMorgan Chase & Co. boosted its stake in Clearwater Paper by 70.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 87,377 shares of the basic materials company’s stock valued at $1,814,000 after purchasing an additional 36,113 shares during the last quarter. Invenomic Capital Management LP increased its holdings in shares of Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after purchasing an additional 169,880 shares in the last quarter. Jefferson Bridge Capital LLC purchased a new position in shares of Clearwater Paper in the fourth quarter worth $483,000. Hudson Bay Capital Management LP raised its stake in shares of Clearwater Paper by 32.0% in the third quarter. Hudson Bay Capital Management LP now owns 85,929 shares of the basic materials company’s stock worth $1,784,000 after purchasing an additional 20,811 shares during the last quarter. Finally, Readystate Asset Management LP lifted its holdings in shares of Clearwater Paper by 2.5% during the first quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock valued at $11,236,000 after purchasing an additional 19,246 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Clearwater Paper Company Profile

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.