Clearwater Paper (NYSE:CLW) Cut to Hold at TD

TD downgraded shares of Clearwater Paper (NYSE:CLW) from a buy rating to a hold rating in a research report report published on Wednesday,BayStreet.CA reports. They currently have $17.00 price target on the basic materials company’s stock, down from their prior price target of $19.00.

Several other equities analysts have also weighed in on CLW. Royal Bank Of Canada decreased their target price on shares of Clearwater Paper from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial reiterated a “hold” rating and issued a $12.00 target price (down from $15.00) on shares of Clearwater Paper in a report on Wednesday. TD Securities decreased their target price on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Finally, TD Cowen lowered shares of Clearwater Paper from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a report on Wednesday. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Clearwater Paper Trading Down 2.9%

NYSE:CLW traded down $0.40 on Wednesday, hitting $13.31. The stock had a trading volume of 201,303 shares, compared to its average volume of 176,010. The company has a quick ratio of 1.13, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $214.56 million, a price-to-earnings ratio of -8.64 and a beta of 0.21. The company has a fifty day moving average price of $14.36 and a two-hundred day moving average price of $16.87. Clearwater Paper has a 1-year low of $11.73 and a 1-year high of $30.96.

Clearwater Paper (NYSE:CLW) last posted its earnings results on Tuesday, April 28th. The basic materials company reported ($1.29) earnings per share for the quarter, beating the consensus estimate of ($1.32) by $0.03. The company had revenue of $360.30 million for the quarter, compared to analyst estimates of $363.55 million. Clearwater Paper had a negative net margin of 1.63% and a negative return on equity of 3.94%.

Hedge Funds Weigh In On Clearwater Paper

Several large investors have recently made changes to their positions in CLW. Millennium Management LLC lifted its holdings in shares of Clearwater Paper by 158.1% in the 4th quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after acquiring an additional 221,029 shares during the last quarter. UBS Group AG lifted its holdings in shares of Clearwater Paper by 228.3% in the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock worth $5,360,000 after acquiring an additional 179,539 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in shares of Clearwater Paper by 113.0% in the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock worth $5,572,000 after acquiring an additional 169,880 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clearwater Paper by 33.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock worth $9,708,000 after acquiring an additional 139,013 shares during the last quarter. Finally, Readystate Asset Management LP lifted its holdings in shares of Clearwater Paper by 19.2% in the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock worth $15,822,000 after acquiring an additional 122,688 shares during the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Paper

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.