Clearwater Paper (NYSE:CLW) Stock Price Crosses Above 200-Day Moving Average on Disappointing Earnings

Key Points

• Clearwater Paper's stock has recently crossed above its 200-day moving average of $27.60 after being upgraded from a sell to a hold rating by Wall Street Zen.
• Royal Bank of Canada maintains an "outperform" rating on Clearwater Paper, setting a target price at $37.00.
• The company's recent earnings results showed a loss of ($0.36) EPS, significantly missing analyst estimates of $0.17, with revenue reported at $378.20 million against expectations of $387.00 million.

Clearwater Paper Corporation (NYSE:CLW - Get Free Report) crossed above its 200-day moving average during trading on Wednesday following a stronger than expected earnings report. The stock has a 200-day moving average of $27.60 and traded as high as $28.51. Clearwater Paper shares last traded at $24.09, with a volume of 1,345,415 shares traded.

The basic materials company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%. The business had revenue of $391.80 million for the quarter, compared to the consensus estimate of $397.00 million.

Analyst Ratings Changes

A number of brokerages have issued reports on CLW. Wall Street Zen cut shares of Clearwater Paper from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Royal Bank Of Canada dropped their price objective on Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Clearwater Paper by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,629 shares of the basic materials company's stock valued at $244,000 after buying an additional 390 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Clearwater Paper by 2.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 17,056 shares of the basic materials company's stock valued at $433,000 after acquiring an additional 448 shares during the last quarter. Woodmont Investment Counsel LLC grew its holdings in shares of Clearwater Paper by 1.3% during the second quarter. Woodmont Investment Counsel LLC now owns 40,170 shares of the basic materials company's stock worth $1,094,000 after purchasing an additional 500 shares in the last quarter. Invesco Ltd. raised its stake in Clearwater Paper by 0.7% in the first quarter. Invesco Ltd. now owns 68,191 shares of the basic materials company's stock valued at $1,730,000 after purchasing an additional 501 shares in the last quarter. Finally, Significant Wealth Partners LLC lifted its position in Clearwater Paper by 5.7% during the second quarter. Significant Wealth Partners LLC now owns 12,639 shares of the basic materials company's stock valued at $344,000 after purchasing an additional 686 shares during the last quarter. 89.98% of the stock is owned by institutional investors.

Clearwater Paper Trading Down 1.1%

The stock's 50 day simple moving average is $28.46 and its 200 day simple moving average is $27.51. The firm has a market cap of $362.54 million, a PE ratio of 1.85 and a beta of 0.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.80 and a current ratio of 1.97.

Clearwater Paper Company Profile

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.