Clearwater Paper (NYSE:CLW) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Clearwater Paper shares rose above their 200-day moving average, reaching $20.79 and last trading around $20.42 versus the $16.95 average.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with one Buy, six Hold, and one Sell rating; the average price target is $19.50.
• The company reported a quarterly loss of $1.75 per share, missing estimates by $0.26, while institutional investors own approximately 89.98% of the stock.

Shares of Clearwater Paper Corporation (NYSE:CLW - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $16.95 and traded as high as $20.79. Clearwater Paper shares last traded at $20.4160, with a volume of 96,097 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on CLW. Weiss Ratings reiterated a "sell (d)" rating on shares of Clearwater Paper in a report on Wednesday, August 5th. Wall Street Zen lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research note on Sunday, June 28th. Zacks Research upgraded Clearwater Paper to a "hold" rating in a report on Monday, July 6th. Bank of America lifted their price objective on Clearwater Paper from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, September 11th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 target price on shares of Clearwater Paper in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Clearwater Paper has a consensus rating of "Hold" and an average target price of $19.50.

Clearwater Paper Trading Up 0.7%

The company's 50 day moving average price is $20.66 and its two-hundred day moving average price is $16.95. The firm has a market cap of $329.31 million, a PE ratio of -6.72 and a beta of 0.22. The company has a quick ratio of 1.17, a current ratio of 2.29 and a debt-to-equity ratio of 0.45.

Clearwater Paper (NYSE:CLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The basic materials company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.26). Clearwater Paper had a negative net margin of 3.24% and a negative return on equity of 7.95%. The firm had revenue of $374.80 million for the quarter, compared to the consensus estimate of $374.80 million. As a group, sell-side analysts forecast that Clearwater Paper Corporation will post -2.33 EPS for the current year.

Institutional Investors Weigh In On Clearwater Paper

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Clearwater Paper during the second quarter valued at approximately $19,788,000. Readystate Asset Management LP increased its holdings in Clearwater Paper by 2.5% during the 1st quarter. Readystate Asset Management LP now owns 781,384 shares of the basic materials company's stock worth $11,236,000 after purchasing an additional 19,246 shares during the period. Invenomic Capital Management LP raised its position in Clearwater Paper by 113.0% during the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company's stock valued at $5,572,000 after purchasing an additional 169,880 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Clearwater Paper by 107.4% in 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 period. Finally, Man Group plc purchased a new stake in shares of Clearwater Paper in the 2nd quarter worth $2,986,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation is a manufacturer of bleached paperboard products used in packaging and other commercial applications. Its products include folding carton board, cup stock, liquid packaging board, and other paperboard grades designed for food, beverage, consumer, and industrial packaging.

The company serves customers primarily in North America through a network of manufacturing facilities and converting operations. Clearwater Paper's paperboard products are used to make cartons, containers, cups, and related packaging for consumer and commercial goods.

Clearwater Paper was established in 2008 when it was spun off from Potlatch Corporation.

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