Truist Financial Issues Positive Forecast for Clearwater Paper (NYSE:CLW) Stock Price

Key Points

• Truist Financial raised its price target on Clearwater Paper from $12 to $17 while keeping a hold rating, implying about 12.9% upside from the current share price.
• Analyst sentiment is mixed but leans cautious: the stock has two Buy ratings, five Hold ratings, and one Sell rating, with a consensus price target of $18.17.
• Clearwater Paper recently reported Q1 EPS of -$1.29, slightly better than expected, but revenue missed estimates and analysts still expect the company to post a full-year loss.

Clearwater Paper (NYSE:CLW - Get Free Report) had its target price lifted by Truist Financial from $12.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the basic materials company's stock. Truist Financial's price objective would suggest a potential upside of 12.87% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Clearwater Paper in a report on Friday, May 8th. Zacks Research upgraded Clearwater Paper to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen cut Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Sunday, June 28th. Royal Bank Of Canada dropped their price target on Clearwater Paper from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 29th. Finally, TD Cowen cut shares of Clearwater Paper from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Clearwater Paper has an average rating of "Hold" and a consensus price target of $18.17.

Clearwater Paper Stock Down 0.8%

CLW stock opened at $15.06 on Wednesday. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $30.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.61 and a quick ratio of 1.26. The stock has a market capitalization of $242.80 million, a price-to-earnings ratio of -9.78 and a beta of 0.27. The business's fifty day moving average price is $15.46 and its two-hundred day moving average price is $15.82.

Clearwater Paper (NYSE:CLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.03. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%. The business had revenue of $360.30 million for the quarter, compared to the consensus estimate of $363.55 million. On average, equities analysts anticipate that Clearwater Paper will post -3.41 earnings per share for the current year.

Hedge Funds Weigh In On Clearwater Paper

A number of institutional investors have recently modified their holdings of CLW. JPMorgan Chase & Co. lifted its stake in Clearwater Paper by 70.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 87,377 shares of the basic materials company's stock valued at $1,814,000 after purchasing an additional 36,113 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of Clearwater Paper by 113.0% during the fourth quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company's stock worth $5,572,000 after buying an additional 169,880 shares during the last quarter. Jefferson Bridge Capital LLC acquired a new position in shares of Clearwater Paper during the fourth quarter worth $483,000. Hudson Bay Capital Management LP lifted its stake in shares of Clearwater Paper by 32.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 85,929 shares of the basic materials company's stock valued at $1,784,000 after acquiring an additional 20,811 shares during the last quarter. Finally, Readystate Asset Management LP boosted its holdings in shares of 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 valued at $11,236,000 after acquiring an additional 19,246 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company's stock.

Clearwater Paper Company Profile

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.

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