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

Zacks Investment Research upgraded shares of Clearwater Paper (NYSE:CLW) from a strong sell rating to a hold rating in a report released on Tuesday, December 5th.

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 reissued a hold rating on shares of Clearwater Paper in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Clearwater Paper has a consensus rating of Hold and an average price target of $60.00.

Shares of Clearwater Paper (CLW) traded down $0.90 during midday trading on Tuesday, hitting $45.40. The stock had a trading volume of 42,780 shares, compared to its average volume of 75,539. Clearwater Paper has a twelve month low of $42.20 and a twelve month high of $67.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.11 and a quick ratio of 0.43. The firm has a market capitalization of $760.87, a PE ratio of 29.48, a PEG ratio of 4.17 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18. Clearwater Paper had a return on equity of 7.38% and a net margin of 1.50%. The business had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $426.87 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. analysts expect that Clearwater Paper will post 2.22 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in Clearwater Paper by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,372 shares of the basic materials company’s stock worth $345,000 after purchasing an additional 68 shares in the last quarter. Texas Permanent School Fund grew its stake in Clearwater Paper by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 11,996 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 76 shares in the last quarter. Stevens Capital Management LP grew its stake in Clearwater Paper by 2.4% during the 2nd quarter. Stevens Capital Management LP now owns 8,575 shares of the basic materials company’s stock worth $401,000 after purchasing an additional 205 shares in the last quarter. Victory Capital Management Inc. grew its stake in Clearwater Paper by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,539 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 380 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Clearwater Paper by 17.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,861 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 420 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

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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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