Clearwater Paper (NYSE:CLW) Hits New 52-Week High Following Strong Earnings

Clearwater Paper Co. (NYSE:CLW - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $47.98 and last traded at $47.28, with a volume of 115387 shares changing hands. The stock had previously closed at $40.69.

The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.32. Clearwater Paper had a net margin of 5.17% and a return on equity of 18.13%. The business had revenue of $496.20 million during the quarter. During the same period in the previous year, the business earned $1.47 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Clearwater Paper from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their target price on Clearwater Paper from $41.00 to $42.00 and gave the company a "sector perform" rating in a research report on Tuesday.

Institutional Investors Weigh In On Clearwater Paper

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in shares of Clearwater Paper during the fourth quarter worth $29,000. Algert Global LLC purchased a new stake in Clearwater Paper in the third quarter valued at about $210,000. Diversified Trust Co acquired a new stake in Clearwater Paper in the first quarter worth about $213,000. Quadrature Capital Ltd purchased a new stake in shares of Clearwater Paper during the third quarter worth about $267,000. Finally, Jump Financial LLC acquired a new position in shares of Clearwater Paper during the third quarter valued at about $294,000. Institutional investors own 89.98% of the company's stock.

Clearwater Paper Stock Up 10.8 %

The stock has a market capitalization of $746.86 million, a PE ratio of 7.19 and a beta of 0.52. The company has a current ratio of 1.97, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The company's 50-day moving average is $40.45 and its 200 day moving average is $37.05.

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.