Zacks Investment Research Upgrades Clearwater Paper (CLW) to “Hold”

Clearwater Paper (NYSE:CLW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Clearwater Paper,a standalone company,produces pulp and paperboard at six facilities across the country namely Lewiston, Idaho; Las Vegas, Nev.; Elwood, Ill.; and near McGehee, Ark. The company manufactures quality paperboard, consumer tissue, and wood products.It has direct access to the public capital markets .The company is a premier supplier of private label tissue to major retail grocery chains, and also produces bleached paperboard used by quality-conscious printers and packaging converters. “

Separately, KeyCorp restated a “hold” rating on shares of Clearwater Paper in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Shares of Clearwater Paper (NYSE:CLW) opened at $46.15 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.11 and a quick ratio of 0.43. Clearwater Paper has a 1-year low of $42.20 and a 1-year high of $68.40. The company has a market capitalization of $759.22, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 4.16 and a beta of 1.02.

Clearwater Paper (NYSE:CLW) last issued its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.14 by $0.18. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.87 million. Clearwater Paper had a return on equity of 7.38% and a net margin of 1.50%. Clearwater Paper’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. equities research analysts anticipate that Clearwater Paper will post 2.22 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its position in Clearwater Paper by 3.2% during the third quarter. California Public Employees Retirement System now owns 104,656 shares of the basic materials company’s stock worth $5,154,000 after buying an additional 3,200 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Clearwater Paper by 86.9% during the third quarter. Janney Montgomery Scott LLC now owns 12,454 shares of the basic materials company’s stock worth $613,000 after buying an additional 5,790 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Clearwater Paper by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,351,987 shares of the basic materials company’s stock worth $66,586,000 after buying an additional 35,387 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Clearwater Paper by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 162,418 shares of the basic materials company’s stock worth $8,000,000 after buying an additional 7,874 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Clearwater Paper by 60.0% during the third quarter. Wells Fargo & Company MN now owns 21,228 shares of the basic materials company’s stock worth $1,045,000 after buying an additional 7,961 shares in the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.

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About Clearwater Paper

Clearwater Paper Corporation manufactures consumer tissue, away-from-home (AFH) tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The Company operates through two segments: Consumer Products segment, and Pulp and Paperboard segment. The Company’s Consumer Products segment manufactures and sells a line of at-home tissue products, as well as AFH products.

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