Clearwater Paper (NYSE:CLW) Cut to Hold at TD Securities

TD Securities cut shares of Clearwater Paper (NYSE:CLW) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on CLW. 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 report on Wednesday. TD cut shares of Clearwater Paper from a “buy” rating to a “hold” rating and dropped their target price for the stock from $19.00 to $17.00 in a report on Wednesday. Truist Financial reissued a “hold” rating and issued a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a report on Wednesday. Finally, Royal Bank Of Canada dropped 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. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Clearwater Paper has a consensus rating of “Hold” and an average price target of $17.00.

Clearwater Paper Stock Performance

Shares of CLW opened at $13.31 on Wednesday. Clearwater Paper has a 12 month low of $11.73 and a 12 month high of $30.96. The company’s fifty day moving average is $14.36 and its 200-day moving average is $16.87. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $214.56 million, a price-to-earnings ratio of -8.64 and a beta of 0.21.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.03. The firm had revenue of $360.30 million during the quarter, compared to analysts’ expectations of $363.55 million. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLW. Optiver Holding B.V. acquired a new stake in Clearwater Paper during the 3rd quarter valued at approximately $44,000. Meeder Asset Management Inc. acquired a new stake in Clearwater Paper during the 4th quarter valued at approximately $47,000. Tower Research Capital LLC TRC increased its position in Clearwater Paper by 34.7% during the 2nd 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 during the period. SG Americas Securities LLC acquired a new stake in Clearwater Paper during the 3rd quarter valued at approximately $114,000. Finally, New York State Common Retirement Fund increased its position in Clearwater Paper by 104.9% during the 3rd quarter. New York State Common Retirement Fund now owns 6,838 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds 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.