Clearwater Paper Corporation (NYSE:CLW) Stock Has Average Target Price of $19.67

Clearwater Paper Corporation (NYSE:CLW) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.67.

Several research firms have commented on CLW. Bank of America increased their price target on shares of Clearwater Paper from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. TD Securities reiterated a “hold” rating and issued a $20.00 price objective on shares of Clearwater Paper in a report on Wednesday, July 29th. Truist Financial dropped their target price on shares of Clearwater Paper from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a research note on Tuesday. Finally, Royal Bank Of Canada reduced their target price on Clearwater Paper from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th.

Clearwater Paper Stock Performance

NYSE CLW opened at $13.28 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.47 and a debt-to-equity ratio of 0.37. Clearwater Paper has a twelve month low of $11.73 and a twelve month high of $23.59. The stock has a market cap of $214.31 million, a P/E ratio of 82.99 and a beta of 0.34. The company’s 50-day simple moving average is $18.83 and its 200 day simple moving average is $16.98.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings results on Monday, October 26th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Clearwater Paper had a net margin of 0.16% and a negative return on equity of 7.36%. The business had revenue of $384.90 million for the quarter, compared to analyst estimates of $388.39 million. As a group, research analysts forecast that Clearwater Paper will post -2.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Clearwater Paper during the second quarter worth about $19,788,000. Readystate Asset Management LP boosted its position 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 buying an additional 19,246 shares during the period. Renaissance Technologies LLC boosted its position in Clearwater Paper by 107.4% in the first quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company’s stock valued at $3,410,000 after buying an additional 122,815 shares during the last quarter. Man Group plc acquired a new stake in shares of Clearwater Paper during the 2nd quarter worth approximately $2,986,000. Finally, Assenagon Asset Management S.A. grew its stake in Clearwater Paper by 26.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 144,392 shares of the basic materials company’s stock worth $2,264,000 after buying an additional 30,379 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

About Clearwater Paper

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation’s pulp and paperboard businesses.