Clearwater Paper (NYSE:CLW) Earns Buy Rating from Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage on Clearwater Paper with a "buy" rating and a price target of $30.00, indicating a potential upside of 38.25% from the stock's current price of $21.70.
• Clearwater Paper recently reported earnings of $0.22 per share, significantly missing the consensus estimate of $0.73, alongside revenue falling short of expectations at $391.80 million.
• Currently, Clearwater Paper has an average rating of "Buy" from three equities research analysts, with a consensus target price of $33.00.

Analysts at TD Cowen initiated coverage on shares of Clearwater Paper (NYSE:CLW - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $30.00 price target on the basic materials company's stock. TD Cowen's price objective would suggest a potential upside of 32.65% from the stock's previous close.

Several other research firms have also recently issued reports on CLW. Wall Street Zen raised shares of Clearwater Paper from a "sell" rating to a "hold" rating in a report on Monday, September 15th. Royal Bank Of Canada dropped their price objective on Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, Cowen initiated coverage on Clearwater Paper in a report on Monday. They set a "buy" rating on the stock. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $32.00.

Clearwater Paper Stock Up 7.5%

CLW traded up $1.58 during trading on Monday, hitting $22.62. The stock had a trading volume of 362,879 shares, compared to its average volume of 177,595. The company has a market capitalization of $364.12 million, a PE ratio of 1.88 and a beta of 0.12. The stock has a 50 day simple moving average of $23.50 and a two-hundred day simple moving average of $25.65. Clearwater Paper has a twelve month low of $20.84 and a twelve month high of $33.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.87 and a current ratio of 1.97.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. 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 business had revenue of $391.80 million for 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%.

Hedge Funds Weigh In On Clearwater Paper

A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Clearwater Paper by 34.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 563 shares during the period. Corient Private Wealth LLC bought a new stake in Clearwater Paper during the second quarter worth approximately $589,000. Vident Advisory LLC purchased a new stake in shares of Clearwater Paper in the second quarter valued at approximately $394,000. BNP Paribas Financial Markets lifted its holdings in shares of Clearwater Paper by 608.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,585 shares of the basic materials company's stock valued at $179,000 after purchasing an additional 5,656 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Clearwater Paper in the 2nd quarter valued at $512,000. 89.98% of the stock is currently owned by institutional investors.

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.