A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada cut Clearwater Paper from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $20.00 to $15.00 in a report on Thursday, August 1st. Zacks Investment Research cut Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.33.
Shares of CLW stock traded up $0.05 during mid-day trading on Wednesday, reaching $17.49. The stock had a trading volume of 2,625 shares, compared to its average volume of 181,237. Clearwater Paper has a one year low of $13.87 and a one year high of $35.27. The company has a quick ratio of 0.43, a current ratio of 0.95 and a debt-to-equity ratio of 1.71. The firm’s 50 day simple moving average is $16.92 and its 200 day simple moving average is $19.34. The firm has a market cap of $244.42 million, a PE ratio of 6.84 and a beta of 1.96.
Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.16). Clearwater Paper had a negative net margin of 8.64% and a positive return on equity of 6.82%. The business had revenue of $451.99 million for the quarter, compared to analyst estimates of $448.35 million. Sell-side analysts forecast that Clearwater Paper will post -0.2 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new position in Clearwater Paper during the second quarter worth about $38,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Clearwater Paper by 78.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,428 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 1,940 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Clearwater Paper by 25.2% in the first quarter. Victory Capital Management Inc. now owns 9,370 shares of the basic materials company’s stock valued at $183,000 after purchasing an additional 1,886 shares in the last quarter. Sawtooth Solutions LLC bought a new stake in shares of Clearwater Paper in the first quarter valued at about $210,000. Finally, United Services Automobile Association bought a new stake in shares of Clearwater Paper in the second quarter valued at about $200,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.
About Clearwater Paper
Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.
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