Clearwater Paper (NYSE:CLW) Stock Price Passes Above 200-Day Moving Average After Earnings Miss

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) shares crossed above its 200-day moving average during trading on Wednesday after the company announced better than expected quarterly earnings. 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.

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 during the quarter, compared to the consensus estimate of $397.00 million. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.

Analysts Set New Price Targets

A number of analysts have issued reports on CLW shares. Royal Bank Of Canada decreased their target price on Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday. Wall Street Zen downgraded Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th.

Institutional Investors Weigh In On Clearwater Paper

Hedge funds have recently added to or reduced their stakes in the company. Elite Financial Inc. bought a new position in shares of Clearwater Paper in the 1st quarter worth approximately $74,000. GAMMA Investing LLC raised its position in shares of Clearwater Paper by 2,384.8% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the basic materials company's stock worth $91,000 after acquiring an additional 3,458 shares in the last quarter. CWM LLC raised its position in shares of Clearwater Paper by 2,215.1% in the 2nd quarter. CWM LLC now owns 3,380 shares of the basic materials company's stock worth $92,000 after acquiring an additional 3,234 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Clearwater Paper in the 1st quarter worth approximately $98,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Clearwater Paper by 5,906.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,985 shares of the basic materials company's stock worth $126,000 after acquiring an additional 4,902 shares in the last quarter. Institutional investors own 89.98% of the company's stock.

Clearwater Paper Price Performance

The stock has a market cap of $359.06 million, a P/E ratio of 1.85 and a beta of 0.08. The firm has a 50-day moving average price of $28.46 and a 200-day moving average price of $27.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.80 and a current ratio of 1.97.

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.