Clearwater Paper (NYSE:CLW) Lowered to "Hold" Rating by TD

Key Points

• TD downgraded Clearwater Paper from "Buy" to "Hold" and cut its price target to $17 (from $19); the stock's consensus rating is now "Hold" with a $17 consensus price target after multiple analysts trimmed forecasts.
• Shares plunged 13.8% to $12.81 on heavy volume (846,253 shares vs. a ~219,551 average), reflecting strong market selling and limited near-term upside implied by the new analyst targets.
• Q1 results showed a slight EPS beat (‑$1.29 vs. consensus ‑$1.32) but revenue missed and the net loss widened, and management's FY2026 revenue guidance of $1.4B–$1.5B raises near‑term earnings and margin concerns.

Clearwater Paper (NYSE:CLW - Get Free Report) was downgraded by research analysts at TD from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday,BayStreet.CA reports. They currently have a $17.00 price target on the basic materials company's stock, down from their previous price target of $19.00. TD's price objective suggests a potential upside of 32.73% from the company's previous close.

CLW has been the topic of a number of other research reports. TD Cowen cut shares of Clearwater Paper from a "buy" rating to a "hold" rating and set a $17.00 price objective on the stock. in a report on Wednesday. Truist Financial reissued a "hold" rating and set a $12.00 price objective (down from $15.00) on shares of Clearwater Paper in a report on Wednesday. TD Securities cut their price objective on shares of Clearwater Paper from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, February 19th. Finally, Royal Bank Of Canada cut their price objective on shares of Clearwater Paper from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $17.00.

Clearwater Paper Stock Down 13.8%

CLW stock traded down $2.04 during midday trading on Wednesday, reaching $12.81. 846,253 shares of the company were exchanged, compared to its average volume of 219,551. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 2.43. Clearwater Paper has a 1-year low of $11.73 and a 1-year high of $30.96. The stock's 50-day simple moving average is $14.48 and its 200 day simple moving average is $16.92. The company has a market cap of $205.44 million, a price-to-earnings ratio of -11.35 and a beta of 0.22.

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

Hedge Funds Weigh In On Clearwater Paper

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of Clearwater Paper by 34.8% during the first quarter. Assenagon Asset Management S.A. now owns 114,013 shares of the basic materials company's stock worth $1,640,000 after acquiring an additional 29,407 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Clearwater Paper during the fourth quarter worth approximately $341,000. Susquehanna Portfolio Strategies LLC grew its position in shares of Clearwater Paper by 185.4% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 28,162 shares of the basic materials company's stock worth $490,000 after acquiring an additional 18,293 shares during the last quarter. Numerai GP LLC grew its position in shares of Clearwater Paper by 3.0% during the fourth quarter. Numerai GP LLC now owns 60,535 shares of the basic materials company's stock worth $1,053,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company's stock worth $6,278,000 after acquiring an additional 221,029 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper News Summary

Here are the key news stories impacting Clearwater Paper this week:

• Positive Sentiment: Q1 results: EPS slightly beat estimates (reported ($1.29) vs. consensus ($1.32)) and volumes rose ~5%, showing demand recovery in paperboard. Management provided detail on operations in the call/transcript. Clearwater Paper Reports First Quarter 2026 Results
• Neutral Sentiment: Call/transcripts and highlights are available for investors who want the management commentary on pricing, utilization, and cost actions (useful for gauging recovery timing). Fool Q1 2026 Earnings Transcript Seeking Alpha Q1 2026 Call Transcript
• Neutral Sentiment: Analyst/coverage pieces emphasize that a utilization/volume recovery is the core bull case; upside depends on sustained pricing and execution — this is a thesis-driven play rather than one with near-term certainty. Seeking Alpha: Utilization Recovery Is The Entire Bull Case
• Negative Sentiment: Revenue and profitability pressures: Q1 revenue ($360.3M) missed estimates (~$365M) and the company reported a larger net loss ($13M vs. $6M year-ago), reflecting weaker market pricing despite higher volumes. MarketBeat Q1 Summary
• Negative Sentiment: Guidance came in light: FY2026 revenue guidance was given in a $1.4B–$1.5B range (below/at consensus), which alongside margin pressure raises near-term earnings risk. Press Release — Guidance
• Negative Sentiment: Analyst reaction: Truist reaffirmed a Hold and cut its price target to $12 (from $15), signaling limited near-term upside in analysts’ view. Benzinga / The Fly note on Truist

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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