Clearwater Paper (NYSE:CLW) Given New $36.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reduced its price target for Clearwater Paper from $37.00 to $36.00, maintaining an "outperform" rating which indicates a potential upside of 35.59% from the current stock price.
• Clearwater Paper shares are trading down 9.8% at $26.55, following a disappointing earnings report which included a loss of $0.36 per share, significantly missing analysts' expectations.
• Institutional investors have recently shown strong interest in Clearwater Paper, with hedge funds owning 89.98% of the company's stock, reflecting a significant increase in stakes by various investment groups.

Clearwater Paper (NYSE:CLW - Get Free Report) had its price objective decreased by research analysts at Royal Bank Of Canada from $37.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 61.83% from the stock's previous close.

Separately, Wall Street Zen downgraded Clearwater Paper from a "hold" rating to a "sell" rating in a report on Saturday, July 12th.

Clearwater Paper Price Performance

Shares of NYSE:CLW traded down $0.32 during midday trading on Wednesday, hitting $22.25. The company had a trading volume of 80,051 shares, compared to its average volume of 260,234. Clearwater Paper has a twelve month low of $21.93 and a twelve month high of $53.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.97 and a quick ratio of 0.80. The stock has a market cap of $361.70 million, a price-to-earnings ratio of 1.84 and a beta of 0.10. The business's 50-day simple moving average is $28.60 and its 200-day simple moving average is $27.56.

Clearwater Paper (NYSE:CLW - Get Free Report) last released its earnings results on Tuesday, July 29th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). The company had revenue of $391.80 million during the quarter, compared to analysts' expectations of $397.00 million. Clearwater Paper had a net margin of 12.98% and a negative return on equity of 4.11%.

Institutional Trading of Clearwater Paper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Clearwater Paper in the first quarter valued at $239,000. KLP Kapitalforvaltning AS acquired a new stake in Clearwater Paper in the fourth quarter valued at $378,000. D. E. Shaw & Co. Inc. lifted its stake in Clearwater Paper by 101.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 388,339 shares of the basic materials company's stock valued at $11,561,000 after acquiring an additional 195,487 shares during the last quarter. Marshall Wace LLP acquired a new stake in Clearwater Paper in the fourth quarter valued at $5,418,000. Finally, Sei Investments Co. acquired a new stake in Clearwater Paper in the fourth quarter valued at $2,010,000. Institutional investors own 89.98% of the company's stock.

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.