Clearwater Paper (NYSE:CLW) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 4th. Royal Bank of Canada downgraded Clearwater Paper from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $50.00 to $35.00 in a research note on Wednesday.
NYSE CLW traded down $6.72 during trading hours on Wednesday, reaching $26.45. 10,372 shares of the company’s stock were exchanged, compared to its average volume of 78,943. The stock has a market cap of $441.42 million, a PE ratio of -28.14 and a beta of 1.20. Clearwater Paper has a one year low of $27.30 and a one year high of $44.73. The firm has a fifty day moving average of $35.46 and a 200-day moving average of $36.18. The company has a current ratio of 1.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.
Clearwater Paper (NYSE:CLW) last posted its quarterly earnings data on Tuesday, February 15th. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Clearwater Paper had a positive return on equity of 5.44% and a negative net margin of 0.86%. During the same quarter in the prior year, the business posted $1.45 EPS. As a group, research analysts forecast that Clearwater Paper will post 0.78 EPS for the current year.
This is one stock that has kept its expenses in line and has a positive EBITDA.
Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in Clearwater Paper by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 9,878 shares of the basic materials company’s stock valued at $286,000 after acquiring an additional 497 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Clearwater Paper by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,160,514 shares of the basic materials company’s stock valued at $33,620,000 after buying an additional 34,949 shares during the period. Geode Capital Management LLC lifted its holdings in Clearwater Paper by 3.0% in the second quarter. Geode Capital Management LLC now owns 272,675 shares of the basic materials company’s stock valued at $7,899,000 after buying an additional 8,064 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Clearwater Paper by 41.0% during the second quarter. Nuveen Asset Management LLC now owns 110,477 shares of the basic materials company’s stock valued at $3,201,000 after purchasing an additional 32,145 shares during the period. Finally, State Street Corp raised its holdings in shares of Clearwater Paper by 5.1% during the second quarter. State Street Corp now owns 550,369 shares of the basic materials company’s stock valued at $15,944,000 after purchasing an additional 26,698 shares during the period. Hedge funds and other institutional investors own 89.26% of the company’s stock.
Clearwater Paper Company Profile
Clearwater Paper Corp. engages in the manufacturing and selling of private label tissue, paperboard, and pulp-based products. It operates through the Consumer Products, and Pulp and Paperboard segments. The Consumer Products segment manufactures and sells a complete line of at-home tissue products. The Pulp and Paperboard segment produces and markets solid bleached sulfate paperboard for the high-end segment of the packaging industry and offers custom sheeting, slitting, and cutting of paperboard.
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