Clearwater Paper Corporation (NYSE:CLW – Get Free Report) has been given an average rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.3333.
CLW has been the subject of several analyst reports. TD Securities downgraded shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Clearwater Paper to a “hold” rating in a research report on Monday. TD lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $17.00 in a research note on Wednesday, April 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Clearwater Paper in a research report on Friday, May 8th. Finally, Bank of America started coverage on Clearwater Paper in a research note on Thursday, July 2nd. They issued a “buy” rating and a $19.00 target price on the stock.
Check Out Our Latest Stock Report on CLW
Clearwater Paper Trading Up 1.3%
Clearwater Paper (NYSE:CLW – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.03. The business had revenue of $360.30 million for the quarter, compared to analysts’ expectations of $363.55 million. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%. On average, sell-side analysts anticipate that Clearwater Paper will post -3.41 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of CLW. Readystate Asset Management LP raised its stake in shares of Clearwater Paper by 2.5% during the 1st quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company’s stock worth $11,236,000 after purchasing an additional 19,246 shares during the period. Charles Schwab Investment Management Inc. grew its position in Clearwater Paper by 33.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after buying an additional 139,013 shares during the period. Millennium Management LLC grew its position in Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock valued at $6,278,000 after buying an additional 221,029 shares during the period. Invenomic Capital Management LP increased its holdings in Clearwater Paper by 113.0% during the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after buying an additional 169,880 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Clearwater Paper by 7.1% during the second quarter. Ameriprise Financial Inc. now owns 303,177 shares of the basic materials company’s stock worth $8,259,000 after buying an additional 20,184 shares during 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.
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