Clearwater Paper (NYSE:CLW) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Clearwater Paper has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more cautious outlook from analysts.
• Royal Bank of Canada has lowered its price target for Clearwater Paper shares from $37.00 to $36.00 while maintaining an "outperform" rating.
• The company reported a net loss of $0.51 per share in its most recent quarterly earnings, falling short of the consensus estimate of $0.73.

Wall Street Zen upgraded shares of Clearwater Paper (NYSE:CLW - Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, Royal Bank Of Canada dropped their price objective on shares of Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Clearwater Paper has a consensus rating of "Buy" and a consensus price target of $36.00.

Clearwater Paper Price Performance

Clearwater Paper stock traded up $0.49 during midday trading on Friday, reaching $21.95. 176,776 shares of the company were exchanged, compared to its average volume of 191,664. The company has a market capitalization of $353.31 million, a price-to-earnings ratio of 1.82 and a beta of 0.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97. The firm's 50-day simple moving average is $25.34 and its 200-day simple moving average is $26.07. Clearwater Paper has a 1 year low of $20.84 and a 1 year high of $33.56.

Clearwater Paper (NYSE:CLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.51). The firm had revenue of $391.80 million for the quarter, compared to analyst estimates of $397.00 million. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.

Hedge Funds Weigh In On Clearwater Paper

Several hedge funds and other institutional investors have recently made changes to their positions in CLW. Vanguard Group Inc. lifted its stake in shares of Clearwater Paper by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,142,392 shares of the basic materials company's stock worth $28,982,000 after purchasing an additional 20,936 shares in the last quarter. Nuveen LLC acquired a new position in Clearwater Paper during the 1st quarter worth approximately $15,314,000. Readystate Asset Management LP lifted its position in Clearwater Paper by 56.7% during the 1st quarter. Readystate Asset Management LP now owns 580,856 shares of the basic materials company's stock worth $14,736,000 after acquiring an additional 210,141 shares in the last quarter. Millennium Management LLC boosted its holdings in Clearwater Paper by 1,102.7% in the 4th quarter. Millennium Management LLC now owns 429,264 shares of the basic materials company's stock worth $12,779,000 after acquiring an additional 393,572 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Clearwater Paper by 101.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company's stock valued at $11,561,000 after acquiring an additional 195,487 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.