Zacks Investment Research upgraded shares of Clearwater Paper (NYSE:CLW) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $43.00 target price on the basic materials company’s stock.
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, Royal Bank of Canada dropped their price objective on Clearwater Paper from $47.00 to $43.00 and set a sector perform rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Clearwater Paper currently has a consensus rating of Hold and a consensus target price of $43.00.
Clearwater Paper (CLW) traded down $0.40 during trading hours on Wednesday, reaching $37.75. The company had a trading volume of 4,363 shares, compared to its average volume of 110,661. Clearwater Paper has a 12-month low of $33.80 and a 12-month high of $58.00. The firm has a market capitalization of $633.24, a P/E ratio of 17.82, a P/E/G ratio of 2.41 and a beta of 1.07. The company has a quick ratio of 0.45, a current ratio of 1.08 and a debt-to-equity ratio of 0.99.
Clearwater Paper (NYSE:CLW) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Clearwater Paper had a return on equity of 7.12% and a net margin of 5.63%. The firm had revenue of $436.70 million during the quarter, compared to analyst estimates of $431.04 million. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. equities analysts predict that Clearwater Paper will post 3.2 earnings per share for the current year.
In other Clearwater Paper news, VP Michael S. Gadd sold 5,368 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $37.68, for a total transaction of $202,266.24. Following the transaction, the vice president now owns 11,712 shares in the company, valued at $441,308.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.41% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CLW. Janney Montgomery Scott LLC lifted its position in Clearwater Paper by 86.9% in the third quarter. Janney Montgomery Scott LLC now owns 12,454 shares of the basic materials company’s stock worth $613,000 after purchasing an additional 5,790 shares during the period. Wells Fargo & Company MN boosted its holdings 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 during the last quarter. Prudential Financial Inc. boosted its holdings in Clearwater Paper by 33.8% during the third quarter. Prudential Financial Inc. now owns 127,048 shares of the basic materials company’s stock worth $6,257,000 after buying an additional 32,120 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Clearwater Paper by 46.0% during the third quarter. BNP Paribas Arbitrage SA now owns 9,542 shares of the basic materials company’s stock worth $470,000 after buying an additional 3,005 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings 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 during the last quarter. Institutional investors own 87.63% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://ledgergazette.com/2018/03/15/clearwater-paper-clw-upgraded-by-zacks-investment-research-to-buy.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clearwater Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearwater Paper and related companies with MarketBeat.com's FREE daily email newsletter.