Truist Financial Lowers Clearwater Paper (NYSE:CLW) Price Target to $15.00

Key Points

• Truist cut Clearwater Paper's price target from $16.00 to $15.00 and kept a "hold" rating, implying roughly a 0.7% downside from the prior close.
• Analyst consensus remains mixed: three Buy, one Hold and one Sell lead to a MarketBeat average rating of "Hold" and an average price target of $22.00 (other targets range roughly $20–$25).
• Stock and recent results: CLW traded at $15.11 (market cap ~$242.3M) and reported Q EPS of -$0.42 (better than -$0.50 est.) on $386.4M revenue, but still shows a negative net margin and negative ROE.

Clearwater Paper (NYSE:CLW - Get Free Report) had its price objective decreased by analysts at Truist Financial from $16.00 to $15.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the basic materials company's stock. Truist Financial's target price suggests a potential downside of 0.70% from the stock's previous close.

A number of other equities research analysts have also issued reports on CLW. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Clearwater Paper in a report on Monday, December 29th. TD Securities cut their target price on shares of Clearwater Paper from $25.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, February 19th. Finally, Royal Bank Of Canada cut their target price on shares of Clearwater Paper from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.00.

Clearwater Paper Price Performance

CLW traded down $0.44 during trading on Wednesday, reaching $15.11. 10,595 shares of the company traded hands, compared to its average volume of 221,341. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.13 and a current ratio of 2.43. Clearwater Paper has a 12-month low of $12.44 and a 12-month high of $30.96. The firm has a fifty day simple moving average of $15.04 and a 200 day simple moving average of $17.29. The company has a market cap of $242.28 million, a P/E ratio of -13.49 and a beta of 0.22.

Clearwater Paper (NYSE:CLW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.08. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%. The business had revenue of $386.40 million during the quarter, compared to analyst estimates of $379.00 million.

Institutional Trading of Clearwater Paper

A number of institutional investors have recently bought and sold shares of CLW. Optiver Holding B.V. bought a new stake in Clearwater Paper in the third quarter worth $44,000. Meeder Asset Management Inc. bought a new stake in Clearwater Paper in the fourth quarter worth $47,000. Tower Research Capital LLC TRC lifted its position in Clearwater Paper by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock worth $60,000 after buying an additional 563 shares during the last quarter. SG Americas Securities LLC bought a new stake in Clearwater Paper in the third quarter worth $114,000. Finally, New York State Common Retirement Fund lifted its position in Clearwater Paper by 104.9% in the third quarter. New York State Common Retirement Fund now owns 6,838 shares of the basic materials company's stock worth $142,000 after buying an additional 3,500 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors.

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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