Clearwater Paper (NYSE:CLW) Earns Hold Rating from Truist Financial

Key Points

• Truist restated a "hold" rating on Clearwater Paper and cut its price target to $12 from $15, implying essentially flat upside (about 0.13%) versus the stock's current price (~$11.98).
• Shares fell to $11.98 after the company reported Q1 EPS of ($1.29), slightly beating estimates, with revenue of $360.3M vs. $365.15M expected, and the firm still showing a negative net margin and negative ROE.
• Analysts are mixed—two Buy, two Hold and one Sell—giving a consensus rating of Hold and a consensus target of $17.25, with individual price targets ranging notably higher.

Clearwater Paper (NYSE:CLW - Get Free Report)'s stock had its "hold" rating restated by research analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the basic materials company's stock, down from their previous price objective of $15.00. Truist Financial's price target points to a potential upside of 0.13% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada set a $20.00 price target on Clearwater Paper in a report on Thursday, April 16th. TD Securities dropped their price objective on shares of Clearwater Paper from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Finally, TD Cowen downgraded shares of Clearwater Paper from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $17.25.

Clearwater Paper Stock Performance

Shares of Clearwater Paper stock traded down $2.87 during trading on Wednesday, hitting $11.98. 203,613 shares of the stock were exchanged, compared to its average volume of 210,428. The company has a current ratio of 2.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $14.48 and a 200-day moving average price of $16.92. The stock has a market capitalization of $192.22 million, a price-to-earnings ratio of -10.78 and a beta of 0.22. Clearwater Paper has a 1-year low of $12.15 and a 1-year high of $30.96.

Clearwater Paper (NYSE:CLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping analysts' consensus estimates of ($1.32) by $0.03. The business had revenue of $360.30 million during the quarter, compared to analysts' expectations of $365.15 million. Clearwater Paper had a negative return on equity of 2.11% and a negative net margin of 1.20%.

Hedge Funds Weigh In On Clearwater Paper

Several institutional investors and hedge funds have recently modified their holdings of the business. Invenomic Capital Management LP acquired a new stake in Clearwater Paper in the 3rd quarter worth about $3,121,000. Peapod Lane Capital LLC grew its position in shares of Clearwater Paper by 177.8% during the 3rd quarter. Peapod Lane Capital LLC now owns 165,388 shares of the basic materials company's stock worth $3,433,000 after purchasing an additional 105,850 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Clearwater Paper by 70.4% during the third quarter. JPMorgan Chase & Co. now owns 87,377 shares of the basic materials company's stock worth $1,814,000 after purchasing an additional 36,113 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Clearwater Paper in the third quarter valued at approximately $1,443,000. Finally, Readystate Asset Management LP boosted its stake in shares of Clearwater Paper by 19.2% in the third quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company's stock valued at $15,822,000 after buying an additional 122,688 shares during the period. 89.98% of the stock is currently owned by institutional investors and hedge funds.

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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