Clearwater Paper Corporation (NYSE:CLW) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst sentiment is neutral: Clearwater Paper has a consensus “Hold” rating from eight firms—six holds, one sell and one buy—with an average 12-month price target of $19.67.
• The company reported a quarterly loss of $0.23 per share, missing the $0.16 loss analysts expected; revenue of $384.9 million also came in below estimates.
• Shares opened at $13.28 on Friday, down 4.4%, and were trading within a 52-week range of $11.73 to $23.59.

Clearwater Paper Corporation (NYSE:CLW - Get Free Report) has earned a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.67.

Several research firms have recently commented on CLW. TD Securities reissued a "hold" rating and issued a $20.00 price objective on shares of Clearwater Paper in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their price target on shares of Clearwater Paper from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, October 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Clearwater Paper in a report on Tuesday. Truist Financial dropped their price target on Clearwater Paper from $20.00 to $17.00 and set a "hold" rating for the company in a research report on Tuesday, October 27th. Finally, Bank of America upped their price objective on shares of Clearwater Paper from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, September 11th.

Clearwater Paper Stock Down 4.4%

Clearwater Paper stock opened at $13.28 on Friday. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $23.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 1.47. The business's 50-day simple moving average is $18.83 and its two-hundred day simple moving average is $16.98. The company has a market cap of $214.31 million, a PE ratio of 82.99 and a beta of 0.34.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its earnings results on Monday, October 26th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.07). Clearwater Paper had a negative return on equity of 7.36% and a net margin of 0.16%. The company had revenue of $384.90 million for the quarter, compared to analyst estimates of $388.39 million. Equities analysts anticipate that Clearwater Paper will post -2.80 EPS for the current year.

Hedge Funds Weigh In On Clearwater Paper

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC bought a new position in Clearwater Paper in the 2nd quarter valued at about $1,303,000. Bank of New York Mellon Corp purchased a new stake in shares of Clearwater Paper in the 2nd quarter valued at $831,000. Jefferies Financial Group Inc. bought a new stake in Clearwater Paper in the 2nd quarter worth about $1,014,000. BlackRock Inc. bought a new position in shares of Clearwater Paper in the 2nd quarter valued at about $19,788,000. Finally, Renaissance Technologies LLC grew its stake in Clearwater Paper by 107.4% during the 1st quarter. Renaissance Technologies LLC now owns 237,115 shares of the basic materials company's stock worth $3,410,000 after buying an additional 122,815 shares during the last quarter. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard and pulp products. Its paperboard is used in packaging applications such as folding cartons, food and beverage packaging, and other consumer and industrial products. The company also produces pulp used in the manufacture of paper and tissue products.

Clearwater Paper primarily serves customers in North America, supplying packaging manufacturers, consumer-products companies, and other converters. Its operations have included paper mills in the United States, including facilities in Idaho and Arkansas, with products marketed to a range of food, beverage, household, and commercial markets.

The company was formed in 2008 through the separation of Potlatch Corporation's pulp and paperboard businesses.

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