Brokerages Set Clearwater Paper Corp (NYSE:CLW) Price Target at $29.50

Clearwater Paper Corp (NYSE:CLW) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $32.00.

Several research analysts have recently issued reports on CLW shares. ValuEngine upgraded Clearwater Paper from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upgraded Clearwater Paper from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $15.00 to $20.00 in a research note on Tuesday. Zacks Investment Research cut Clearwater Paper from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Finally, KeyCorp restated a “hold” rating on shares of Clearwater Paper in a research note on Thursday, October 24th.

Clearwater Paper stock traded up $0.60 during midday trading on Thursday, reaching $20.00. The company’s stock had a trading volume of 185,000 shares, compared to its average volume of 123,033. The stock’s 50-day simple moving average is $21.17 and its 200-day simple moving average is $19.00. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.57 and a quick ratio of 0.62. Clearwater Paper has a 52-week low of $13.87 and a 52-week high of $35.27. The stock has a market capitalization of $309.67 million, a P/E ratio of 7.84 and a beta of 1.99.

Clearwater Paper (NYSE:CLW) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.18). Clearwater Paper had a negative net margin of 11.13% and a positive return on equity of 0.51%. The business had revenue of $445.19 million during the quarter, compared to analysts’ expectations of $450.00 million. During the same quarter last year, the business posted $1.35 earnings per share. As a group, equities research analysts expect that Clearwater Paper will post -0.38 earnings per share for the current fiscal year.

In other news, insider Harrison David acquired 4,483 shares of Clearwater Paper stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $5.74 per share, for a total transaction of $25,714.49. Company insiders own 3.97% of the company’s stock.

Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in Clearwater Paper by 38.6% during the third quarter. Millennium Management LLC now owns 252,878 shares of the basic materials company’s stock valued at $5,340,000 after acquiring an additional 70,394 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Clearwater Paper by 4.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 366,852 shares of the basic materials company’s stock valued at $6,784,000 after acquiring an additional 14,560 shares in the last quarter. BlackRock Inc. raised its position in Clearwater Paper by 1.0% during the second quarter. BlackRock Inc. now owns 2,488,754 shares of the basic materials company’s stock valued at $46,019,000 after acquiring an additional 23,765 shares in the last quarter. Rhumbline Advisers raised its position in Clearwater Paper by 6.7% during the third quarter. Rhumbline Advisers now owns 53,874 shares of the basic materials company’s stock valued at $1,138,000 after acquiring an additional 3,362 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Clearwater Paper by 61.4% during the third quarter. Pictet Asset Management Ltd. now owns 441,395 shares of the basic materials company’s stock valued at $9,322,000 after acquiring an additional 167,854 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

About Clearwater Paper

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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