Clearwater Paper (NYSE:CLW) Price Target Raised to $48.00

Clearwater Paper (NYSE:CLW) had its target price lifted by Royal Bank of Canada from $42.00 to $48.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the basic materials company’s stock.

Clearwater Paper Stock Performance

Shares of Clearwater Paper stock traded down $2.61 during trading hours on Wednesday, hitting $32.60. 538,940 shares of the company’s stock traded hands, compared to its average volume of 162,714. Clearwater Paper has a 12-month low of $31.38 and a 12-month high of $57.13. The stock has a market capitalization of $543.77 million, a price-to-earnings ratio of 5.45 and a beta of 0.40. The company has a fifty day simple moving average of $49.51 and a 200-day simple moving average of $44.27. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.91 and a quick ratio of 0.82.

Institutional Investors Weigh In On Clearwater Paper

Several large investors have recently made changes to their positions in CLW. GAMMA Investing LLC purchased a new stake in shares of Clearwater Paper during the 4th quarter valued at $29,000. Innealta Capital LLC purchased a new stake in Clearwater Paper in the 2nd quarter worth about $52,000. SG Americas Securities LLC purchased a new stake in Clearwater Paper in the 1st quarter worth about $132,000. DekaBank Deutsche Girozentrale purchased a new stake in Clearwater Paper in the 2nd quarter worth about $153,000. Finally, Meeder Asset Management Inc. purchased a new stake in Clearwater Paper in the 1st quarter worth about $211,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.