Clearwater Paper (NYSE:CLW) Given New $22.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Clearwater Paper’s price target from $23 to $22 while maintaining an “outperform” rating, implying roughly 50.6% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “hold” rating and an average price target of $19.67; ratings include one Buy, six Holds, and one Sell.
• Clearwater Paper shares fell 24% to $14.61 after the company reported quarterly EPS of negative $0.23, missing the consensus estimate of negative $0.16, while revenue also came in slightly below expectations.

Clearwater Paper (NYSE:CLW - Get Free Report) had its target price cut by analysts at Royal Bank Of Canada from $23.00 to $22.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price target points to a potential upside of 50.63% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research upgraded shares of Clearwater Paper to a "hold" rating in a report on Monday, July 6th. TD Securities restated a "hold" rating and set a $20.00 target price on shares of Clearwater Paper in a research note on Wednesday, July 29th. Truist Financial lifted their target price on shares of Clearwater Paper from $12.00 to $17.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d)" rating on shares of Clearwater Paper in a research note on Wednesday, August 5th. Finally, 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 report on Friday, September 11th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.67.

Clearwater Paper Stock Down 24.0%

CLW traded down $4.62 during trading on Tuesday, reaching $14.61. 187,613 shares of the stock were exchanged, compared to its average volume of 194,213. The stock's 50 day moving average price is $20.22 and its two-hundred day moving average price is $17.26. 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 $235.58 million, a P/E ratio of -4.94 and a beta of 0.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 2.29.

Clearwater Paper (NYSE:CLW - Get Free Report) last released its quarterly earnings data 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 negative net margin of 3.24% and a negative return on equity of 7.95%. The business had revenue of $384.90 million during the quarter, compared to the consensus estimate of $388.39 million. Equities analysts expect that Clearwater Paper will post -2.33 EPS for the current year.

Institutional Investors Weigh In On Clearwater Paper

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Clearwater Paper during the 2nd quarter worth $19,788,000. Readystate Asset Management LP raised its holdings in shares of Clearwater Paper by 2.5% in 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 purchasing an additional 19,246 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 purchasing an additional 122,815 shares during the last quarter. Man Group plc purchased a new stake in shares of Clearwater Paper in the second quarter valued at about $2,986,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Clearwater Paper by 26.6% during the second quarter. Assenagon Asset Management S.A. now owns 144,392 shares of the basic materials company's stock valued at $2,264,000 after purchasing an additional 30,379 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

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.

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