Clearwater Paper (CLW) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Clearwater Paper (NYSE:CLW) from a hold rating to a buy rating in a research note released on Friday. The brokerage currently has $29.00 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. “

A number of other equities analysts have also recently weighed in on CLW. Royal Bank of Canada decreased their price objective on shares of Clearwater Paper from $32.00 to $31.00 and set a sector perform rating for the company in a research report on Friday. ValuEngine raised shares of Clearwater Paper from a strong sell rating to a sell rating in a research report on Thursday, September 6th.

Clearwater Paper stock traded down $0.68 during trading on Friday, reaching $25.64. 315,693 shares of the company’s stock were exchanged, compared to its average volume of 140,648. The company has a current ratio of 0.86, a quick ratio of 0.36 and a debt-to-equity ratio of 0.97. Clearwater Paper has a 52-week low of $21.55 and a 52-week high of $50.60. The stock has a market cap of $451.49 million, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings results on Thursday, November 8th. The basic materials company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.85. Clearwater Paper had a net margin of 5.27% and a return on equity of 4.95%. The firm had revenue of $426.46 million during the quarter, compared to analysts’ expectations of $434.38 million. During the same period in the prior year, the company earned $0.32 EPS. Analysts forecast that Clearwater Paper will post 1.87 earnings per share for the current year.

A number of large investors have recently bought and sold shares of CLW. Principal Financial Group Inc. boosted its position in Clearwater Paper by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 126,073 shares of the basic materials company’s stock valued at $4,929,000 after buying an additional 3,106 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Clearwater Paper in the 2nd quarter valued at about $3,255,000. Bank of Montreal Can boosted its position in Clearwater Paper by 655.3% in the 2nd quarter. Bank of Montreal Can now owns 14,252 shares of the basic materials company’s stock valued at $329,000 after buying an additional 12,365 shares during the last quarter. Unison Advisors LLC purchased a new position in Clearwater Paper in the 2nd quarter valued at about $274,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Clearwater Paper by 660.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 47,854 shares of the basic materials company’s stock valued at $1,106,000 after buying an additional 41,564 shares during the last quarter. 88.51% of the stock is owned by institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation produces and sells produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins.

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