Clearwater Paper (NYSE:CLW) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Clearwater Paper from a "hold" to a "sell," and several other firms trimmed ratings or targets this week, leaving a MarketBeat consensus rating of "Hold" with a $17 consensus target price.
• The stock opened at $13.31 (down about 2.9%), with a market cap of roughly $214.6M and a 12‑month range of $11.73–$30.96; the 50‑day and 200‑day moving averages are $14.36 and $16.87, respectively.
• In the most recent quarter CLW reported EPS of ($1.29), beating the ($1.32) estimate by $0.03 but posting $360.3M in revenue (slightly below expectations) and showing a negative net margin and negative return on equity.

Clearwater Paper (NYSE:CLW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Other research analysts have also issued reports about the company. TD Securities lowered Clearwater Paper from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Royal Bank Of Canada reduced their target price on Clearwater Paper from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday. TD lowered Clearwater Paper from a "buy" rating to a "hold" rating and reduced their target price for the company from $19.00 to $17.00 in a research report on Wednesday. Truist Financial reaffirmed a "hold" rating and set a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a research report on Wednesday. Finally, TD Cowen lowered Clearwater Paper from a "buy" rating to a "hold" rating and set a $17.00 target price on the stock. in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Clearwater Paper has an average rating of "Hold" and a consensus target price of $17.00.

Clearwater Paper Trading Down 2.9%

CLW opened at $13.31 on Friday. The firm has a market cap of $214.56 million, a price-to-earnings ratio of -8.64 and a beta of 0.21. The company has a current ratio of 2.61, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Clearwater Paper has a 12 month low of $11.73 and a 12 month high of $30.96. The stock has a fifty day moving average price of $14.36 and a 200-day moving average price of $16.87.

Clearwater Paper (NYSE:CLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.03. The firm had revenue of $360.30 million during the quarter, compared to analyst estimates of $363.55 million. Clearwater Paper had a negative return on equity of 3.94% and a negative net margin of 1.63%.

Institutional Trading of Clearwater Paper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new stake in Clearwater Paper during the 3rd quarter worth about $44,000. Meeder Asset Management Inc. acquired a new stake in Clearwater Paper during the 4th quarter worth about $47,000. Tower Research Capital LLC TRC lifted its position in Clearwater Paper by 34.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock worth $60,000 after acquiring an additional 563 shares during the period. SG Americas Securities LLC acquired a new stake in Clearwater Paper during the 3rd quarter worth about $114,000. Finally, New York State Common Retirement Fund lifted its position in Clearwater Paper by 104.9% during the 3rd quarter. New York State Common Retirement Fund now owns 6,838 shares of the basic materials company's stock worth $142,000 after acquiring an additional 3,500 shares during the period. Institutional investors and hedge funds own 89.98% of the company's stock.

About Clearwater Paper

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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