Clearwater Paper (NYSE:CLW) Coverage Initiated at Bank of America

Bank of America started coverage on shares of Clearwater Paper (NYSE:CLW) in a research note issued to investors on Thursday,Benzinga reports. The firm set a “neutral” rating and a $19.00 price target on the basic materials company’s stock. Bank of America‘s target price would suggest a potential upside of 16.00% from the company’s current price.

A number of other research analysts also recently weighed in on CLW. Royal Bank Of Canada decreased 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. TD Securities cut shares of Clearwater Paper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Clearwater Paper from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of Clearwater Paper in a research note on Friday, May 8th. Finally, TD downgraded Clearwater Paper from a “buy” rating to a “hold” rating and reduced their target price for the stock from $19.00 to $17.00 in a research note on Wednesday, April 29th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Clearwater Paper currently has an average rating of “Hold” and an average target price of $17.33.

Clearwater Paper Stock Up 3.6%

Shares of Clearwater Paper stock opened at $16.38 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $15.21 and a 200 day moving average price of $15.99. Clearwater Paper has a fifty-two week low of $11.73 and a fifty-two week high of $30.96. The firm has a market cap of $264.05 million, a P/E ratio of -10.32 and a beta of 0.27.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $360.30 million during the quarter, compared to the consensus estimate of $363.55 million.

Institutional Trading of Clearwater Paper

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of 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 in the last quarter. Invenomic Capital Management LP purchased a new stake in Clearwater Paper in the third quarter valued at about $3,121,000. Cramer Rosenthal Mcglynn LLC boosted its holdings in Clearwater Paper by 39.4% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 232,253 shares of the basic materials company’s stock worth $4,822,000 after acquiring an additional 65,644 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in shares of Clearwater Paper by 32.0% during the third quarter. Hudson Bay Capital Management LP now owns 85,929 shares of the basic materials company’s stock worth $1,784,000 after acquiring an additional 20,811 shares during the last quarter. Finally, Seven Six Capital Management LLC raised its position in shares of Clearwater Paper by 11.7% in the 3rd quarter. Seven Six Capital Management LLC now owns 101,309 shares of the basic materials company’s stock valued at $2,103,000 after purchasing an additional 10,650 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.